US: Privately-owned housing starts in August were at 1,180,000, 0.8% below July estimate

"Privately-owned housing starts in August were at a seasonally adjusted annual rate of 1,180,000. This is 0.8 percent below the revised July estimate of 1,190,000, but is 1.4 percent above the August 2016 rate of 1,164,000," the U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced on Tuesday.

Key highlights:

• Privately-owned housing units authorized by building permits in August were at a seasonally adjusted annual rate of 1,300,000.
• This is 5.7 percent above the revised July rate of 1,230,000 and is 8.3 percent above the August 2016 rate of 1,200,000. 
• Privately-owned housing completions in August were at a seasonally adjusted annual rate of 1,075,000.
• This is 10.2 percent below the revised July estimate of 1,197,000, but is 3.4 percent above the August 2016 rate of 1,040,000.