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US housing starts fell to 3-year low, weigh on Al, Cu
Housing starts fell by a monthly 11.3pc in August to the lowest level since June 2020, with multi-family starts off by more than a quarter amid a resurgence in borrowing costs and lack of housing supply, a sign that demand for some construction materials such as rebar, copper and aluminum may soften. Total housing starts fell to a seasonally adjusted annual rate of 1.283mn units in August, down by 14.8pc from August 2022, according to the Census Bureau and the Department for Housing and Urban Development (HUD). Single-family housing starts were at a rate of 941,000 units for August, 4.3pc below July's rate but 2.4pc ... (full story)
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- Posted: Sep 19, 2023 4:42pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 98
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