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20 Jun 2023
US: Housing Starts jump 21.7% in May, Building Permits rise 5.2%
- Housing Starts in the US rose sharply in May.
- US Dollar Index gained traction and rose above 102.50.
The monthly data published by the US Census Bureau revealed on Wednesday that Housing Starts rose 21.7% on a monthly basis in May following the 2.9% decline (revised from +2.2%) recorded in April. This reading surpassed the market expectation for a decline of 0.8% by a wide margin.
In the same period, Building Permits rose 5.2%, compared to analysts' estimate for a 5% contraction.
Market reaction
The US Dollar Index gained traction with the immediate reaction to these data and was last seen posting small daily gains at 102.55.