New home construction fell to an 8-month low in June, but there were indications of increased activity in coming months, the government said this week.
Housing starts fell 5% from May to a seasonally adjusted annual rate of 549,000 last month, the Commerce Department said. That was the lowest rate since October 2009.
Economists were expecting housing starts to fall to 575,000. On a year-over-year basis, starts sank 5.8% from June 2009.
Building permits, a gauge of future construction activity, rebounded last month, posting the first gain since March. Permits rose to a seasonally adjusted annual rate of 586,000 last month, up 2.1% from a revised 574,000 in May.
Economists expected permits to drop to 572,000. Permits were down 2.3% from June 2009.
Read the rest of the story here.
Latest from Nursery Management
- John Ruter named National Academy of Inventors Fellow
- University of Florida study unlocks secrets of invasive short-spined thrips
- IPPS announces organizational rebrand, new website and 2026 international membership drive
- Growscape appoints chief manufacturing officer, Brian Cunningham
- BioWorks introduces Sandrine Copper Soap and Cintro Insecticidal Soap
- Experts help Florida cemetery become state’s first to earn arboretum accreditation
- BioWorks appoints Jason Miller as director of sales and distributor relations manager
- Light a spark
