Forex - Preview: due 8 Mar - US Jan Housing Starts, Permits


 14:58 (GMT) 07 Mar

  [Economic Data]

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Preview: due 8 Mar - US Jan Housing Starts, Permits (0101-JNVC-C01)

Jan should see housing starts correct higher by 8.5% to 1170k after a plunge of 11.2% in Dec, but permits should fall by 8.0% to 1220k after seeing a marginal 0.3% increase in Dec. Dec saw particularly sharp contrasts in both multiples and the West, which both fell sharply in the case of starts but rose sharply in the case of permits. Otherwise the Dec breakdown looked weak, singles down in both series and no region outside permits in the West recording a rise in either series.

Preview: due 8 Mar - US Jan Housing Starts, Permits (0101-JNVC-C02)

This suggests permits are vulnerable to a sharp correction lower, led by multiples and the West, though we also see single permits down for a second straight month, by 3.5% to 800k. Starts should see singles (by 6.9% to 810k after 2 straight sharp declines) rising as well as multiples, while starts in the Midwest as well as the West are due for a bounce from Dec weakness. However bad weather late in the month should keep the level of starts below that of permits.

Preview: due 8 Mar - US Jan Housing Starts, Permits (0101-JNVC-C03)

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