The headlines will portray a further fall in housing starts as a bad thing. Wrong! When you have a 9-plus month supply of unsold home hanging over the market an untold foreclosures still to come, building more homes makes no sense.
Starts are expected to slow to a 530,000 annual rate.
More closely watched will be industrial production figures at 14:15 GMT. It is seen falling 1.3%, according to economists.
Other events to watch include a Bernake speech at 14:00 GMT and Obama’s housing plan later in the day.
