U.S. housing data signals economic strength; manufacturing weak

Source: Reuters
As 2015 drew to a close, the Commerce Department reported that building permits in November vaulted 11 percent to a 1.29 million-unit rate, the highest level since June. Groundbreaking jumped 10.5 percent to a seasonally adjusted annual pace of 1.17 million units. With permits running ahead of starts, home building is likely to remain supported in the months ahead. November marked the eighth straight month that housing starts remained above 1 million units, the longest stretch since 2007. Despite these signs of strength in the housing market, other data showed the industrial sector continuing to struggle under the weight of a strong dollar, cutbacks in inventory investment as well as spending cuts by energy firms in response to persistently low oil prices.”
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