- Prior 0.999m. Revised to 1.048m
- Building permits 0.937m vs 0.980m exp. Prior 0.991m
Starts down 16.0% on the month and the biggest fall since Feb 2011. Permits down 5.4% vs a 2.6% drop in Dec.
A big fall in starts in the Midwest -67.7 but that was mitigated slightly by a 61.9% gain in the North East. South and West dropped 12.5% and 17.4% respectively. The West saw the biggest decline in permits -26.0%.
The upward revision to last month has gone some way to not making this report looking as ugly as the headline suggests. Even so the dollar trips up again down to 101.85 but it’s looks like there’s a willingness to soak it up as we bounce back to 101.98
