Housing starts unexpectedly plummet to lowest level in five months
National Association of Home Builders CEO Jim Tobin provides expert analysis of the U.S. housing market as demand falls due to rising interest rates. U.S. new home construction fell to a five-month low in January, highlighting the continued challenges facing the housing market. Housing starts Sales fell 14.8% last month to 1.33 million units for […]
UK inflation unexpectedly rises despite sharp fall in fuel prices | Inflation
UK inflation unexpectedly rose to 4.0% in December, complicating expectations that the Bank of England would start cutting interest rates. The Office for National Statistics said the annual inflation rate, as measured by the Consumer Price Index (CPI), rose from 3.9% in November, halting the recent sharp decline. Economists in the city had predicted a […]
New York Manufacturing Unexpectedly Collapses
Factory activity in New York suffered an unexpected collapse in January, a New York Fed study revealed Tuesday. Business activity contracted sharply in January, according to the New York Fed's Empire State Manufacturing Survey. The business conditions index fell sharply, dropping 29.2 points in January to -43.7. Economists expected the economy to improve and expected […]