Despite recent dips in the output of manufacturing and industrial production across key sectors of the American economy, the housing market does appear to be weathering the storm relatively better. Today’s publication of two significant housing figures supports this notion.
The US Census Bureau published its latest national findings on the issuance of building permits and the initiation of housing starts for the month of July. Forecasts for both figures were near 600,000. The actual results came almost perfectly in line with these expectations. The Building Permits report was 10,000 units below forecast, but this was not significant enough to warrant bearishness. American housing investments seem to be holding steady, and occasionally rising, despite rampant pessimism in the market.
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Greg Holden is the Chief Market Analyst at ForexYard. Greg uses his detailed knowledge of fundamental and technical analysis to provide some of the leading market forecasts in the forex world today. A guest lecturer at forex symposiums and Chief Editor of ForexYard's analysis center, Greg brings highly detailed and easy-to-use market analyses to his clientele. He has been published on ForexYard's Trading Blog and affiliate websites. Greg holds degrees in Political Science and Economics from Missouri State University, as well as a Masters degree in Middle Eastern History.
