Housing Starts Remain Weak

Housing Starts (March 2015)

– Starts seasonally adjusted, annualized 926,000. Previous was 908,000
– Permits seasonally adjusted, annualized   1,039,000.  Previous was 1,102,000.

Two points can be derived from this:  1) the month-on-month increase was weather related.  The NE had a gain of 114.9%.  The West fell 19.3%. 2) the Housing sector is still dismal.  Starts are about 62% of what they should be allowing for population growth and scrappage of older homes.

 

Initial Jobless Claims (week ended 4/11/2015)

– Initial Claims seasonally adjusted  294,000. Previous was 282,000.
– Initial Claims  unadjusted totaled 307,500  an increase of 53,967 the previous
– 4-week Moving Average   282,750. Previous was 282,500.

 

Philadelphia Federal Reserve Business Outlook Survey (April 2015)

– General Business Conditions Index 7.5. Previous was 5.

This is a survey index of businesses within the Philadelphia Fed’s region.