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.
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.
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