U.S. Housing Starts Declined 5.9% In February

U.S. housing starts came out at 575.000 vs. 565.000 consensus and 591.000 in January. Building permits in the same period fell 1.6% to 612.000.

The weather certainly played a role here, but nevertheless the data coming out on housing isn’t good.

Chart 1. U.S. Housing Starts

Source: U.S. Census Bureau

Chart 2. U.S. Building Permits

Source: U.S. Census Bureau


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