Housing Starts Jump To Highest Level Since February 2008

Housing starts climbed 22.7% month over month in November to an annualized pace of 1.091 million.

Permits beat expectations, coming in at 1.007 million (but down from the original 1.034 million figure in October).

October’s permits print was revised up to 1.039 million.

As ED&F Man Capital managing director Tom di Galoma pointed out to us in an email, this was the highest level of housing starts since February 2008.

Click here for updates »

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.