Residential construction in October got a “caffeine jolt” when total housing starts smashed expectations with a 25.5% month-over-month (MoM) surge to 1.323 million units -- a nine-year-high. Most of the jump was attributable to a 68.8% leap in the multi-family segment. That housing was “on a roll” appeared to be confirmed when the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) rose by seven points (to 70) in December, the highest reading since July 2005 and the largest MoM jump in over 20 years.
Click here to read the rest of the December 2016 Macro Pulse recap.
The Macro Pulse blog is a commentary about recent economic developments affecting the forest products industry. The monthly Macro Pulse newsletter typically summarizes the previous 30 days of commentary available on this website.