The number of homes under construction fell by 7 percent

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The number of homes under construction in the United States fell further than expected in July, but there were more permits than expected. This was shown on Wednesday by figures from the US government.

In July, the number of homes under construction decreased by 7.0 percent on a monthly basis to 1.534 million homes on an annualized basis. Economists expected an average decrease of 3.2 percent in advance.

On an annual basis, there was an increase of 2.5 percent.

The number of building permits issued increased by 2.6 percent on a monthly basis to 1.635 million permits and increased by 6.0 percent on an annual basis. On a monthly basis, economists expected an increase of 0.8 percent.

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Nicholas de Kramer

Nicholas de Krammer, а self-taught economic analytic with heave mathematical background. Math behind the economics (and economics behind math) is the strong side of the author. Contact him at [email protected]

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