BCREA ECONOMICS NOW
US Housing Starts - May 16, 2013
US housing starts fell to a five-month low in
April, slumping nearly 17 per cent to 853,000 at a seasonally adjusted annual
rate (SAAR). Housing starts had reached a 1.02 million (SAAR) pace in March.
Slower construction activity in April likely reflects a temporary pause in the
housing recovery underway down South. Building permits, a key proxy for future
activity, increased 14.3 per cent.
The strong recovery in US home construction
continues to boost BC wood product exports and manufacturing output. Sales of
BC manufactured wood products rose 40 per cent year-over-year in March and are
up 34 per cent through the first quarter.
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