Jump in housing starts

  • Prior was 1168K (revised to 1174K)

  • Housing starts up 9.2% vs +5.7% expected

  • Building permits 1229K vs 1310K expected

  • Prior permits 1303K

Housing starts have been in a rut so the rebound close to 1300K is a better sign for an underperforming part of the US economy. However the continued weakness in permits isn't a great signal going forward.