Forex - Preview: due 16 May - US Apr Housing Starts, Permits


 14:50 (GMT) 15 May

  [Economic Data]

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Preview: due 16 May - US Apr Housing Starts, Permits (0101-LDWM-C01)

We expect Apr housing starts to rise by 6.2% to 1210k while remaining well below permits which should rise by 0.9% to 1300k. This would be the first rise in 3 months for starts and the first rise in 4 months for permits, though historic revisions due with this release could complicate the picture. With most recent home sales data having improved a rise in starts looks overdue, though a rise in construction employment in Apr's payroll masked slippage in residential and a fall in the workweek.

Preview: due 16 May - US Apr Housing Starts, Permits (0101-LDWM-C02)

Single family starts should rise by 8.3% to 850k, getting back to trend after correcting a strong Jan in Feb and Mar. Single permits should reflect improved home sales with their first rise in 5 months, by 1.5% to 830k. The volatile multiples sector has no clear trend and with Mar moves being modest we are not due for a sharp move in Apr. We expect multiple starts to rise by 1.7% to 360k and multiple permits to fall by 0.4% to 470k.

Preview: due 16 May - US Apr Housing Starts, Permits (0101-LDWM-C03)

Starts and permits should both increase in 3 out of the 4 regions, the exception in both series being the West, which was the only region to record increases in Mar.


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