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US – Aug Housing Starts
21/09/2022 01:37 pm MYT
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Housing starts in Aug rose 12.2% month-on-month, but slipped 0.1% year-on-year to a seasonally adjusted annual rate (SAAR) of 1.575 mln units (figure 1).

Month-on-month, the number of single-family housing starts increased by 3.4% while multi-family housing units expanded by 28.6%. Year-on-year, the number of single-family housing starts shrank by 14.6% while that of multi-family housing units jumped 31.0%, to a SAAR of 935,000 and 621,000 respectively.

Building permits, an indication of future construction activity, contracted by 10.0% month-on-month and 14.4% from a year ago to a SAAR of 1.517 mln units.

Note from Publisher
After months of speculation, the Malaysian prime minister could announce the date of the 15th general election (GE15) as soon as this week. The prime minister is expected to leave for New York to attend the United Nations General Assembly later this week. He has been under a lot of pressure from his own party to dissolve parliament and hold GE15 months ago. The term of the current parliamentarians will expire on 16 Jul 2023. However, if Parliament is not dissolved by then, it will automatically dissolve itself on that day to make way for GE15, which must be held within 60 days, i.e., by 16 Sep 2023.

GE15 is likely to be the most important general election in Malaysia’s history. The country has never been as divided as it is now. No single political party commands majority support on its own. Horse trading behind the scenes has created great uncertainty. Voter sentiment is unclear as well after showing angst and lethargy against the constant quarrels among politicians. What makes sentiment even more unpredictable is the fact that GE15 will see 5.8 mln young people who are 18 years of age voting for the first time. They could sway the election result.

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