Housing starts in the US sank 11.3% month-over-month to a seasonally adjusted annualized rate of 1.283 million in August 2023, the lowest level since June 2020, and well below forecasts of 1.44 million. Single-family housing starts declined 4.3% to 941K and the rate for units in buildings with five units or more plunged by 26.3% to 334K. The biggest decline was recorded in the West (-28.9% to 281K), followed by the Midwest (-7.5% to 160K) and the South (-4.9% to 745K) while starts rose 1% in the Northeast (to 97K).

Source: Trading Economics
Post by: Republic of Türkiye Ministry of Trade