November housing starts fall back after October’s nine-year high
Privately-owned housing starts in November were at a seasonally adjusted annual rate of 1,090,000. This is 18.7 percent below the revised October estimate of 1,340,000 and is 6.9 percent below the November 2015 rate of 1,171,000.
November building permits down 4.7 percent from October and 6.6 percent year-on-year
Privately-owned housing units authorized by building permits in November were at a seasonally adjusted annual rate of 1,201,000. This is 4.7 percent below the revised October rate of 1,260,000 and is 6.6 percent below the November 2015 estimate of 1,286,000.
Empire State Manufacturing Survey Index rises eight points in December
The headline general business conditions index climbed eight points to 9.0. Indexes for the six-month outlook conveyed a high degree of optimism about future conditions, with the index for future business conditions rising to its highest level in nearly five years.
Philadelphia Fed’s Business Outlook Survey indexes all rise in December
Activity picked up in December, according to the firms responding to this month’s Manufacturing Business Outlook Survey. The indexes for general activity, shipments, and employment were all positive this month and increased from their readings last month.