January 17, 2025
United States:
US Housing Starts Top All Forecasts on Multifamily Construction
Housing starts in the US climbed in December to the fastest pace since early 2024, reflecting a surge in multifamily projects and a more modest advance in one-family homes.
New residential construction increased nearly 16% to an annualized rate of 1.50 million, rebounding after a three-month slump, according to government data released Friday
Europe:
ECB’s Nagel Warns Against Rushing Rate Cuts, Platow Reports
The European Central Bank is right to be cautious in cutting interest rates considering heightened uncertainty and lingering inflation risks, Governing Council member Joachim Nagel told Platow Brief.
“We shouldn’t be too hasty in our efforts to normalize monetary policy,” Nagel was quoted as saying. “A careful approach is appropriate given high uncertainty. Inflation is currently still elevated. Services prices in particular continue to rise dynamically.”
Asia:
China Hits 5% GDP Target But Trump Tariffs Threaten Further Growth
China’s economy grew more than expected last year on a late policy blitz and export boom. The danger now is President Xi Jinping eases up on stimulus just as tariffs loom.
Gross domestic product rose 5.4% in the last three months from a year earlier, exceeding most analysts’ expectations and marking the fastest pace in six quarters.
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