In a 2 March Fox interview, Commerce Secretary Howard Lutnick said he plans to remove government spending as a component of statistics about the U.S. gross domestic product.
Tag: home construction
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U.S. HOUSING STARTS TUMBLE IN JANUARY
New single-family home construction in the U.S. slumped 8.4 percent in January, year on year, dropping for the first time since October. Multifamily starts were down by 13.5 percent, according to commerce department data. The pullback followed a 16-percent surge in home starts in December, leading some economists to believe that some construction was advanced......
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AUSTRALIA’S ECONOMY SLIPS TOWARD RECESSION AND “NATIONAL EMERGENCY”
In this year’s third quarter, Australia’s economy squeaked out growth of 0.8 percent, year on year, down from 1 percent in the preceding three months, government figures show. The expansion was the slimmest since the end of the COVID War, the World Socialist Web Site (WSWS) reported.
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SALES OF NEW HOMES SLUMP IN APRIL
In April, sales of newly built homes fell 4.7 percent from March and 7.7 percent year on year, the U.S. census bureau reported.
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HOME CONSTRUCTION STARTS AND PERMITS JUMP IN NOVEMBER
In November, builders began work on new homes at a clip that translates to an annual rate of 1.6 million housing units and filed permits to construct 1.5 million more, news service Quartz reported.
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RALLY IN HOME CONSTRUCTION STALLS
Last spring’s boom in home construction has finally been stomped by high interest rates.