AIB Home (IRE)   fxcentre.com  fxcentre.co.uk   fxcenterusa.com   AIB Economics   AIB Home (GB) 

Friday 29th August 2014 
email to a colleague

printer version
services
Product Description Product Description

Product Description
Sheets
Cash Management Cash Management

Cash Mgt Services
Public/Private Sectors
2013 Historic Rates 2013 Historic Rates

Historic Average
FX Rates 2013
Let us know let us know

send us your feedback
on fxcentre.com
RateSaver RateSaver

online historic fx and
interest rates
fx3 fx3

custom fx rates
directly to your mobile
fxcentre pro fxcentre pro

confirm and view deals
& payments online
US housing starts fall in May
Tuesday, 19th June 2012 02.23pm

U.S. housing starts fell in May from a 3-1/2 year high although permits to build new homes rose sharply, suggesting a nascent housing recovery remains on track.

The Commerce Department said today that groundbreaking on new homes dropped 4.8 percent to a seasonally adjusted annual rate of 708,000 units.

The reading, which is prone to significant revisions, was below the median forecast in a Reuters poll of a 720,000-unit rate.

Revisions to data from prior months were more upbeat. April's starts were revised up to a 744,000-unit pace from a previously reported 717,000 unit rate. That was the highest reading since October 2008.

America's weak housing market has dragged on growth in the economy for the last six years, but signs of insipient recovery have led many economists to predict a reversal in that trend this year.

New permits for building homes jumped 7.9 percent to a 780,000-unit pace. That was the highest since September 2008 and well above analysts' forecasts.

"Several aspects of the report paints a somewhat brighter picture than the headline suggests," said Peter Newland, an economist at Barclays in New York.

Recent data has suggested the U.S. economy is losing steam, which has raised expectations the Federal Reserve could ease monetary policy as soon as Wednesday, when it concludes a two-day policy review. Hiring has slowed every month since February, while manufacturing output contracted last month. Europe's debt crisis and planned belt-tightening by the U.S. government loom heavily over the economy. A downturn would imperil President Barack Obama's hopes of reelection in November. U.S. stock index futures edged higher as investor hopes for central bank stimulus measures rose after tepid German economic data. (C ) Reuters

More breaking news >
The above information has been taken from sources we believe to be reliable and trustworthy. However the accurateness and completeness thereof are not guaranteed and therefore should not be relied upon as such. AIB does not endorse or approve the content of any information from third party sites nor will it have any liability in connection with any third party site (including but not limited to liability arising out of any allegation that the content of or information on any third party site infringes any law or the rights of any person or entity)
  © Allied Irish Banks, p.l.c. 2003 AIB Customer Treasury Services is a registered business name of Allied Irish Banks, p.l.c.
Allied Irish Banks, p.l.c. is regulated by the Central Bank of Ireland. Registered Office: Bankcentre, Ballsbridge, Dublin 4.
Registered in Ireland : Registered No. 024173.