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For additional information relating to this article, please contact:

Barbara Ruszel Economist
Tel: 902-424-1848Email:

February 16, 2018

US residential construction permits, a leading indicator of new construction, increased by 7.4 per cent in January 2018 compared to the revised December 2017 estimate, to a seasonally adjusted annual rate of 1,396,000. This is 7.4 per cent above the January 2017 estimate of 1,300,000. Compared to last month, permits for single unit structures were down 1.7 per cent, 2 to 4 units structures were up 37.8 per cent, and 5+ units structures increased 25.4 per cent. 

US housing starts in January 2018 were at a seasonally adjusted annual rate of 1,326,000 units. This is 9.7 per cent above the revised December 2017 estimate of 1,209,000 and is 7.3 per cent above the January 2017 estimate of 1,236,000.

US housing starts are an important indicator for Nova Scotia's wood exports. Though not a perfect predictor, US housing starts and the value of Nova Scotia's wood exports follow similar directions over the long-term.

Source: US Census Bureau New Residential Construction

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