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Indicator Digest

Building Permits
Building permits and mortgage approvals are forward looking indicators as they give an indication to future construction projects. In order to start construction on a home, a building permit must be issued, and this indicator captures the effect. The more homes that are being built and sold, the better that an economy is doing.

Main Indicator: Building Permits

Most Recent Release

February
17th, 2010
Actual Forecast Previous Revised Form
621K 620K 653K N/A

Annualized Pace of Permits for December
Provided by: Department of Commerce
Most Current Release: PDF

Permits m/m: -4.9%, forecast -5.1%, pr. 10.9% (Dec), 6.0% (Nov),
-4.0% (Oct), -1.2% (Sep), 2.7% (Aug), -1.8% (Jul), 8.7% (Jun),
4.0% (May), -3.3% (Apr), -9.0% (Mar), 3.0% (Jan), -10.7% (Dec)

Table of Past Data

5/196/167/178/189/1710/2011/1812/161/202/17
Actual0.49K0.52M0.56M0.56M0.58M0.57M0.55M0.58M653K621K
Forecast0.53M0.50M0.52M0.58M0.58M0.59M0.59M0.57M580K620K
Previous0.51M0.50M0.52M0.57M0.56M0.58M0.57M0.55M589K653K
Revised From0.52N/AN/AN/AN/AN/AN/AN/AN/AN/A

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Past Releases

January
20th, 2010
Actual Forecast Previous Revised Form
653K 580K 589K N/A

Annualized Pace of Permits for December
Provided by: Department of Commerce
Most Current Release: PDF

Permits m/m: 10.9%, pr. 6.0% (Nov), -4.0% (Oct), -1.2% (Sep),
2.7% (Aug), -1.8% (Jul), 8.7% (Jun), 4.0% (May), -3.3% (Apr),
-9.0% (Mar), 3.0% (Jan), -10.7% (Dec), -15.6% (Nov), -12.0% (Oct)

December
16th, 2009
Actual Forecast Previous Revised Form
0.58M 0.57M 0.55M N/A

Annualized Rate for November
Provided by: Department of Commerce
Current Release: PDF

Permits m/m: 6.0%, pr. -4.0% (Oct), -1.2% (Sep), 2.7% (Aug),
-1.8% (Jul), 8.7% (Jun), 4.0% (May), -3.3% (Apr), -9.0% (Mar),
3.0% (Jan), -10.7% (Dec), -15.6% (Nov), -12.0% (Oct)

November
18th, 2009
Actual Forecast Previous Revised Form
0.55M 0.59M 0.57M N/A

Annualized Rate for October
Provided by: Department of Commerce
Most Current Release: PDF

Permits m/m: -4.0%, pr. -1.2% (Sep), 2.7% (Aug), -1.8% (Jul),
8.7% (Jun), 4.0% (May), -3.3% (Apr), -9.0% (Mar), 3.0% (Jan),
-10.7% (Dec), -15.6% (Nov), -12.0% (Oct), -6.1% (Sep)

Building permits, a sign of future construction, fell 4% to a seasonally adjusted 552,000 annual pace. Housing starts meanwhile were down a sharp 10.6%.  

October
20th, 2009
Actual Forecast Previous Revised Form
0.57M 0.59M 0.58M N/A

Annualized Rate for September
Provided by: Department of Commerce
Most Current Release: PDF

Permits m/m: -1.2%, pr. 2.7% (Aug), -1.8% (Jul), 8.7% (Jun),
4.0% (May), -3.3% (Apr), -9.0% (Mar), 3.0% (Jan), -10.7% (Dec),
-15.6% (Nov), -12.0% (Oct), -6.1% (Sep), -8.9% (Aug), -17.7% (Jul)

September
17th, 2009
Actual Forecast Previous Revised Form
0.58M 0.58M 0.56M N/A

Annualized Rate for August
Provided by: Department of Commerce
Most Current Release: PDF

Permits m/m: 2.7%, pr. -1.8% (Jul), 8.7% (Jun), 4.0% (May),
-3.3% (Apr), -9.0% (Mar), 3.0% (Jan), -10.7% (Dec), -15.6% (Nov),
-12.0% (Oct), -6.1% (Sep), -8.9% (Aug), -17.7% (Jul), 11.6% (Jun)

Permits, a sign of future construction, climbed 2.7% to a 579,000 annual rate in August, boosted by an increase in multi-family homes. 

August
18th, 2009
Actual Forecast Previous Revised Form
0.56M 0.58M 0.57M N/A

Annualized Rate for July
Provided by: Department of Commerce
Current Release: PDF

Permits m/m: -1.8%, pr. 8.7% (Jun), 4.0% (May), -3.3% (Apr),
-9.0% (Mar), 3.0% (Jan), -10.7% (Dec), -15.6% (Nov), -12.0% (Oct),
-6.1% (Sep), -8.9% (Aug), -17.7% (Jul), 11.6% (Jun), -1.3% (May)

Building permits, an indication of future construction activity, declined 1.8% to an annualized rate of 560,000 units. Economists were looking for a increase to annual rate of 577,000. Permits were 39.4% below the July 2008 rate of 924,000. 

July
17th, 2009
Actual Forecast Previous Revised Form
0.56M 0.52M 0.52M N/A

Annualized Rate for June
Provided by: Department of Commerce
Current Release: PDF

Permits m/m: 8.7%, pr. 4.0% (May), -3.3% (Apr), -9.0% (Mar),
3.0% (Jan), -10.7% (Dec), -15.6% (Nov), -12.0% (Oct), -6.1% (Sep),
-8.9% (Aug), -17.7% (Jul), 11.6% (Jun), -1.3% (May), 4.9% (Apr)

Building permits rose 8.7% to an annual pace of 560K in June, a figure that surprised forecasts on the upside. Building permits are a leading indicator for housing starts which also showed a bigger than expected increase. The data can point to a bottoming out of starts and permits and could set the stage for the beginning of a recovery in the housing sector.

See Housing Starts for more commentary.

June
16th, 2009
Actual Forecast Previous Revised Form
0.52M 0.50M 0.50M N/A

Annualized Rate for May
Provided by: Department of Commerce
Current Release: PDF

Permits m/m: 4.0%, pr. -3.3% (Apr), -9.0% (Mar), 3.0% (Jan),
-10.7% (Dec), -15.6% (Nov), -12.0% (Oct), -6.1% (Sep), -8.9% (Aug),
-17.7% (Jul), 11.6% (Jun), -1.3% (May), 4.9% (Apr)

Building permits rose 4% in May, to an annual rate of 518,000 units. Housing starts meanwhile were up 17%. Though the housing starts number will draw more attention, an increase in permits acts as a leading indicator for future housing starts.

May
19th, 2009
Actual Forecast Previous Revised Form
0.49K 0.53M 0.51M 0.52

Annualized Rate for April
Provided by: Department of Commerce
Current Release: PDF

Permits m/m:  -3.3%, pr. -9.0% (Mar), 3.0% (Jan), -10.7% (Dec),
-15.6% (Nov), -12.0% (Oct), -6.1% (Sep), -8.9% (Aug), -17.7% (Jul),
11.6% (Jun), -1.3% (May), 4.9% (Apr)