US residential construction activity slows in December

Friday, 20 January 2012 02:11:51 (GMT+2)

According to data released Thursday by the US Census Bureau, housing units authorized by building permits fell 0.1 percent from November to December to an annual rate of 679,000. Nonetheless, building permits increased 7.8 percent compared to December 2010.

Housing starts in December also declined, and were down 4.1 percent compared to November to a 657,000 annual rate. Year-on-year, however, housing starts registered a 24.9 percent increase from December 2010.

Housing completions in December were at an annual rate of 605,000--9.2 percent above the November level and 7.1 percent higher than housing completions in December 2010.

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