New Residential Construction
July 17th, 2024
Privately-owned housing starts in June 2024 were at a seasonally adjusted annual rate of 1,353,000. This is 3.0 percent (+/- 10.5%)* above the revised May 2024 estimate of 1,314,000.
Privately-owned housing starts in June 2024 were at a seasonally adjusted annual rate of 1,353,000. This is 3.0 percent (+/- 10.5%)* above the revised May 2024 estimate of 1,314,000.
+0.5
+0.3
U.S. total business end-of-month inventories for May 2024 were $2,558.5 billion, up 0.5 percent (+/- 0.1 percent) from last month. U.S. total business sales were $1,861.4 billion, virtually unchanged (+/- 0.1 percent)* from last month.
U.S. retail and food services sales for June 2024 were $704.3 billion, virtually unchanged (+/-0.5 percent)* from the previous month.
Total U.S. Business Applications were 431,246 in June 2024, up 1.7% from May 2024.
May 2024 sales of merchant wholesalers were $666.7 billion, up 0.4 percent (+/- 0.4 percent)* from last month. End-of-month inventories were $901.7 billion, up 0.6 percent (+/- 0.2 percent) from last month.
New orders for manufactured goods in May, down following three consecutive monthly increases, decreased $3.0 billion or 0.5 percent to $583.1 billion.
The nation's international trade deficit in goods and services increased to $75.1 billion in May from $74.5 billion in April (revised), as exports decreased more than imports.
Total construction activity for May 2024 ($2,139.8 billion) was 0.1 percent (+/-1.0 percent)* below the revised April 2024 ($2,142.1 billion).
May end-of-month inventories were $901.6 billion, up 0.6 percent (+/- 0.2 percent) from last month.
The advance international trade deficit in goods increased to $100.6 billion in May from $98.0 billion in April as exports decreased more than imports.
+0.7
+0.7
May 2024 end-of-month inventories were $796.8 billion, up 0.7 percent (+/- 0.2%) from last month.
New orders for manufactured durable goods in May, up four consecutive months, increased $0.3 billion or 0.1 percent to $283.1 billion.
Sales of new single-family houses in May 2024 were at a seasonally adjusted annual rate of 619,000. This is 11.3 percent (+/- 15.5%)* below the revised April 2024 estimate of 698,000.
+2.3
+2.2
U.S. selected services total revenue for the first quarter of 2024, adjusted for seasonal variation but not for price changes, was $5,534.6 billion, an increase of 2.3 percent (+/- 0.2 percent) from the fourth quarter of 2023 and up 6.7 percent (+/- 0.6 percent) from the first quarter of 2023.
Manufacturing corporations' seasonally adjusted after-tax profits were $200.0 billion for the first quarter of 2024, not statistically different from the fourth quarter of 2023.
-14.2
+4.1
Seasonally adjusted after-tax profits for retail corporations with assets of $50 million and over were $33.8 billion for the first quarter 2024 (the 3 months ending April 30, 2024), down $14.2 (+/- 1.1) billion from fourth quarter 2023 (the 3 months ending January 31, 2024).
+65.6*
+66.0
The homeownership rate of 65.6 percent was not statistically different from the rate in the first quarter 2023 (66.0 percent). The homeownership rates, compared to the first quarter 2023, were lower in the Midwest, and not statistically different in the Northeast, South, and West.
+6.6*
+6.4
The rental vacancy rate of 6.6 percent was not statistically different than the rate in the first quarter 2023 (6.4 percent). Compared to first quarter 2023, the rental vacancy rate was higher in the West and not statistically different in the Northeast, Midwest, and South.