Building approvals declined further in June

In the USA, the number of building approvals in July - adjusted to account for seasonal effects and calculated on an annualised basis - amounted to 1.442m units, corresponding to a year-on-year decline of 13.0%....

In the USA, the number of building approvals in July 2023 - adjusted to account for seasonal effects and calculated on an annualised basis - amounted to 1.442m (July 2022: 1.658m) units, corresponding to a year-on-year decline of 13.0%. Of this figure, 930,000 (918,000) pertained to detached houses and 464,000...

In the survey concerning business development in residential construction conducted monthly by the Munich-based ifo Institute, as many as 18.9% of the companies surveyed reported cancellations in July 2023. Cancellations thus remained almost consistent with the record level of 19.2% recorded in June. Cancellations...