02:50 PM EDT, 06/16/2026 (MT Newswires) -- Housing starts fell by 15.4% to a 1.177 million annual rate in May, with single-family housing starts and multi-family starts both lower.

Building permits fell by 0.7% to a 1.413 million rate in May. Single-family permits were higher while multi-family permits declined. Homes permitted but not started increased by 4.7%.

The number of homes under construction and completions both declined in the month, which should subtract from the supply of homes for sale in the near term. Completions are 14.2% below their year-ago level.

Import prices rose by 1.9% in May and were up 0.8% excluding a 12.5% gain in fuel prices. Petroleum prices were up 13%.

Export prices rose by 1.3% in May and were up 1.2% excluding a 1.2% gain in agricultural prices.

The New York Federal Reserve's monthly business leaders index, a measure of services conditions, fell to minus 10.1 in June from minus 5.8 in May, indicating more widespread contraction. Other services data will be released over the coming weeks.

Redbook reported that US same-store retail sales were up 9.4% year-over-year in the week ended June 13, faster than a 9.1% gain in the prior week due to sales of warm-weather items.

The Q2 GDP nowcast estimate from the Atlanta Fed is for a 2.8% gain, down from the previous estimate of a 3.3% gain.