The headline 9.2% m/m rise in housing starts in August hides an otherwise disappointing report. The jump in starts was driven by the volatile multifamily sector, with single-family construction seeing only a marginal gain. Moreover, single-family building permits saw their largest month-on-month drop in over seven years. Muted housing demand, and a shortage of labour, is keeping construction in check.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to gain:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services