Subscribe to our free daily newsletters
  Energy News  




Subscribe to our free daily newsletters



TRADE WARS
Post-hurricane rebuilding fuels jump in October US home construction
by Staff Writers
Washington (AFP) Nov 17, 2017


Construction of new homes in the United States sprang to life in October as hurricane-damaged housing markets recovered from back-to-back late summer storms, according to data released Wednesday.

The spike in construction, which also reflected a large increase in apartments in regions not touched by Hurricanes Harvey and Irma, was the biggest in a year and followed three consecutive months of declines, the Commerce Department reported.

Analysts say supply in the tight US housing market has failed to keep pace with demand and it remained unclear whether the October bounce could be sustained once the storm effects recede.

Housing starts rose 13.7 percent to a seasonally adjusted annual rate of 1.29 million units, the largest increase and the highest level since October 2016. The result far overshot analyst expectations, which had called for a more modest 5.6 percent increase.

The sudden jump followed months in which construction slowed and last month's pace was still 5.3 percent below the rate recorded in October of last year.

And Ian Shepherdson of Pantheon Macroeconomics said the October jump might be noise from the hurricanes.

"It would still be a real stretch to argue that the trend is rising," he wrote in a client note. "All we can say for sure is the hurricane hit has reversed."

Construction of apartments surged 37.4 percent, the largest increase since December, driven in large part by new construction in the Northeast. In that region homebuilding shot up by 44.2 percent, while single-family homes saw a 22.4 percent drop.

In the South, which includes flooded and storm-battered southeast Texas and Florida, single-family home construction rose 16.6 percent, its fastest pace in more than three years.

Building permits, which are a sign of construction in the works, gained a less robust 5.9 percent compared to September, reaching an annual rate of 1.29 million units, the highest level since January.

TRADE WARS
IMF raises 2017 growth outlook for South Korea
Seoul (AFP) Nov 14, 2017
The International Monetary Fund on Tuesday raised its 2017 growth forecast for South Korea, as improving exports and construction investment offset elevated geopolitical tensions over the North Korea nuclear crisis. Wrapping up a two-week visit, the IMF said it expects Asia's fourth-largest economy to expand 3.2 percent this year, up from its earlier prediction of 3.0 percent. "The momen ... read more

Related Links
Global Trade News


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.

SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only

Comment using your Disqus, Facebook, Google or Twitter login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

TRADE WARS
Improving sensor accuracy to prevent electrical grid overload

Japan faces challenges in cutting CO2, Moody's finds

IEA: An electrified world would cost $31B per year to achieve

'Fuel-secure' steps in Washington counterintuitive, green group says

TRADE WARS
Study helps make microgrids a more reliable power source

Fuel cell X-ray study details effects of temperature and moisture on performance

Researchers take next step toward fusion energy

'Perfectly frustrated' metal provides possible path to superconductivity

TRADE WARS
End tax credits for wind energy, Tennessee Republican says

New York sets high bar for wind energy

Construction to begin on $160 million Industry Leading Hybrid Renewable Energy Project

A kite that might fly

TRADE WARS
Recurrent Energy secures debt financing for 20 MW California solar project

Sunny future for renewables thanks to China: IEA

Butterfly wing inspires photovoltaics that could triple light absorption

Ionic 'solar cell' could provide on-demand water desalination

TRADE WARS
A fast reactor system to shorten the lifetime of long-lived fission products

France backtracks on nuclear power reduction target

AREVA NP introduces FORERUNNER robot to optimize steam generator inspections

Nuclear energy programs may not increase likelihood of proliferation

TRADE WARS
To find new biofuel enzymes, it can take a microbial village

Desert solar to fuel centuries of air travel

Sandia speeds transformation of biofuel waste into wealth

Study identifies additional hurdle to widespread planting of bioenergy crops

TRADE WARS
New oil production from Norway cleared ahead of schedule

Fossil fuel investment spells 'unsustainable future': UN chief

High U.S. oil exports the new normal under right conditions

New oil expected from North Sea by December

TRADE WARS
Merkel, Macron to front diplomatic push at UN climate talks

Scientists warn of 'giant leap backward' at climate talks

Heat on 'climate chancellor' Merkel over coal and cars

US defends fossil fuels at UN climate meeting




Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News






The content herein, unless otherwise known to be public domain, are Copyright 1995-2017 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement