Items Tagged with 'U.S. Department of Commerce'

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  • Housing market cools down as home building takes a dive

    Single-family construction down 17% from previous month
    Housing starts fell 8.7% in the month of February, according to the latest report from the U.S. Dept. of Housing and Urban Development and the U.S. Dept. of Commerce. The one bright spot seems to be an increase in multifamily permits, where the overwhelming majority of which will feed the rental market.
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  • Housing starts heat up in January, climb whopping 18.6%

    Housing starts increase to 1.23 million in January
    Housing starts significantly heated up in January, according to the latest report from the U.S. Dept. of Housing and Urban Development and the U.S. Dept. of Commerce. First American Chief Economist Mark Fleming said the 18.6% monthly increase in housing starts reflects rising consumer sentiment and builder confidence.
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  • Housing starts tumble in December

    Fall 11.2% but post yearly gain
    Housing starts for the month of December took a tumble, according to the latest report from the HUD and the Dept. of Commerce. Starts fell 11.2% in December to a seasonally adjusted annual rate of 1.08 million units, according to the report, which was delayed due to the more than month-long partial government shutdown.
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  • No Reason to Get Excited

    What will the financial news headlines read on January 29? Dollars to doughnuts, I’d expect more than a few screaming headlines about economic growth—next Friday is when the U.S. Department of Commerce rolls out its advance estimate for GDP in the fourth quarter of 2009. But all will likely not be as it seems, if so.
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  • GDP Contraction Exceeds Expectations

    US real gross domestic product (GDP) slid at an annual rate of 6.1% in Q109 as unemployment rose, slashing the output of goods and services. Downsizing and job loss either contributing to or resulting from the GDP contraction may also heap pressure on now-unemployed homeowners. The quarter's contraction comes after GDP shrank 6.3% in Q408, the US Department of Commerce said Wednesday in its advance estimates.
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  • GDP Contracts 6.3% Annually in Q4

    Real gross domestic product -- or GDP -- contracted at a seasonally-adjusted annual rate of 6.3 percent in the fourth quarter 2008 from the previous quarter, according to revised estimates released Thursday by the Bureau of Economic Analysis within the U.S. Department of Commerce. This rate was revised down from a previous estimate of a 6.2 percent decline.
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  • New Home Sales Rise After Hitting Record Low

    After dropping over 10 percent in January, new single-family home sales rebounded 4.7 percent in February to a seasonally adjusted annual rate of 337,000, according to data released Wednesday by the U.S. Department of Commerce. The upward movement in February's sales was the first nationwide increase since last July, and well above the 323,000 pace expected by economists surveyed by MarketWatch. Nonetheless, February's sales were still down 41.1 percent compared to the same time last year.
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  • New Home Sales Dive 48% Since 2008

    New single-family home sales in January came in at an adjusted annual rate of 309,00, down 10.2 percent from a month earlier and 48.2 percent from the rate seen in the same month a year earlier, according to data released Thursday by the U.S. Department of Commerce. The South experienced the highest number of new home sales in the month, with 172,000 units sold, while the Northeast reported the smallest number of new home sales, with 27,000 units sold.
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