USA Import Prices and Housing Starts Update

US import prices rose above expectations in May, while housing starts experienced a sharp decline primarily due to multi-family volatility. Despite these figures, Goldman Sachs maintains its Q2 GDP growth estimate at 2.4%.

Key Takeaways

• 1.Core import prices rose 0.8% in May, exceeding expectations due to higher costs in computer peripherals.
• 2.Housing starts fell 15.4% in May, largely driven by volatility in multi-family starts; single-family starts fell only 1.9%.
• 3.Q2 GDP tracking estimate is maintained at 2.4%.

Table of Contents

• BOTTOM LINE
• US MAP
• KEY NUMBERS
• MAIN POINTS

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