Number of new buildings in USA unexpectedly declines

Number of new buildings in USA unexpectedly declines
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The number of homes, which construction was started in the USA in May 2017, fell by 5.5% compared to the previous month and amounted to 1,092,000 in terms of annual growth, according to the US Ministry of Commerce.

This figure is the lowest since September last year.

In April, the number of new buildings fell by 2.8% to 1,156,000 in comparison with March, whereas previously a decline of 2.6%, to 1,172,000 had been reported.

Wall Street analysts predicted an increase of the rate from the previously announced level up to 1,220,000 (+4.1%).

In May, the number of permits for the construction of new homes in the USA decreased by 4.9%, compared to the previous month, down to 1,168,000 in terms of annual rates. Experts expected a rate increase by 1.7%, to 1,249,000.