Credit: Investing.com -
Investing.com - The number of building permits issues in the U.S. fell more-than-expected in May, while housing starts also missed forecasts, official data showed Tuesday.
In a report, the U.S. Commerce Department said that the number of building permits issued last month fell by 6.4% to a seasonally adjusted 991,000 units from April's total of 1.059 million.
Analysts expected building permits to decline by 0.1% to 1.05 million units in May.
The report also showed that U.S. housing starts dropped by 6.5% last month to hit a seasonally adjusted 1.001 million units from April's total of 1.071 million, disappointing expectations for a decline of 3.7% to 1.034 million units.
Following the release of the data, the U.S. dollar added to gains against the euro, with EUR/USD shedding 0.14% to trade at 1.3555, compared to 1.3570 ahead of the data.
Meanwhile, U.S. stock index futures pointed to a lower open. The Dow indicated a loss of 0.1%, the S&P 500 pointed to a decline of 0.1%, while the Nasdaq 100 signaled a fall of 0.1%.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
