The U.S. Commerce Department’s Bureau of Economic Analysis today released the advance estimate of gross domestic product (GDP) for the second quarter of 2012. Real GDP grew 1.5 percent at an annual rate in the second quarter, consistent with private sector expectations.
WASHINGTON - The Commerce Department's U.S. Census Bureau today released June 2012 data on new residential construction. Housing starts in June 2012 were at a seasonally adjusted annual rate of 760,000, up 6.9 percent from May’s revised estimate and up 23.6 percent from June 2011. Starts of multifamily structures increased 12.8%, and single-family starts rose 4.7%. Building permits for the month were at a seasonally adjusted annual rate of 755,000, down 3.7 percent from the revised May rate but up 19.3 percent from one year earlier.
