2/20: MetroIntelligence Economic Update by P. DUFFY

January housing starts rebounded 9.7 percent from December to second-highest rate since Great Recession

Privately-owned housing starts in January rebounded sharply from weather-related dips in December to  1,326,000. This is 9.7 percent above the revised December estimate, 7.3 percent above the January 2017 level, and is the second-highest annual rate since the Great Recession.

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January building permits rose to 10.5-year high, up 7.4 percent year-on-year

Privately-owned housing units authorized by building permits in January rose to a 10.5-year high of 1,396,000. This is 7.4 percent above both the revised December 2017 rate and the January 2017 rate.

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4Q 2017 e-commerce sales grew 3.2 percent from previous quarter and 16.9 percent year-on-year

U.S. retail e-commerce sales for the fourth quarter of 2017 were $119.0 billion, up 3.2 percent from the third quarter of 2017, and up 16.9 percent year-on-year. Total e-commerce sales for 2017 were estimated at $453.5 billion, up 16.0 percent from 2016.

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4Q 2017 services revenue grew 2.4 percent from previous quarter and 5.2 percent year-on-year

Advance U.S. selected services total revenue for the fourth quarter of 2017 rose 2.4 from the third quarter of 2017 and was up 5.2 percent from the fourth quarter of 2016.

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