Parade of Weakness: Housing Starts and Permits Slump in December
Wednesday, January 20, 2016 14:41
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by Mike “Mish” Shedlock
MISH’S Global Economic Trend Analysis
Housing starts, one of the presumed strengths in the economy, took a dive in December.
The Econoday Consensus Estimate was for 1.200 million starts vs. the actual report of 1.14 Million.
Housing starts and permits both fell back in December but follow large gains in November. Starts came in at an annualized 1.149 million rate in December for a 2.5 percent monthly dip while permits came in at 1.232 million for a 3.9 percent decline. Yet both of these readings for November surged more than 10 percent. Year-on-year, starts are up a healthy 6.4 percent with permits especially strong at 14.4 percent.
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Source: http://financialsurvivalnetwork.com/2016/01/parade-of-weakness-housing-starts-and-permits-slump-in-december/?utm_source=rss&utm_medium=rss&utm_campaign=parade-of-weakness-housing-starts-and-permits-slump-in-december
