5/17: MetroIntelligence Economic Update by P. DUFFY

Housing starts rebounded 5.7 percent in April, but still down 2.5 percent year-on-year

Privately-owned housing starts in April were at a seasonally adjusted annual rate of 1,235,000.  This is 5.7 percent above the revised March estimate of 1,168,000, but is 2.5 percent below the April 2018 rate of 1,267,000.

https://www.census.gov/construction/nrc/pdf/newresconst.pdf

Building permits edged up 0.6 percent in April, but fell 5.0 percent year-on-year

Privately-owned housing units authorized by building permits in April were at a seasonally adjusted annual rate of 1,296,000.  This is 0.6 percent above the revised March rate of 1,288,000, but is 5.0 percent below the April 2018 rate of 1,364,000.

https://www.census.gov/construction/nrc/pdf/newresconst.pdf

Industrial production slipped 0.5 percent in April, but rose 0.9 percent year-on-year

Industrial production fell 0.5 percent in April, and the rates of change for previous months were revised down, declining 1.9 percent at an annual rate in the first quarter. However, at 109.2 percent of its 2012 average, total industrial production was 0.9 percent higher in April than it was a year earlier.

https://www.federalreserve.gov/releases/g17/current/default.htm