US: Housing starts and building permits expected to reveal a slowdown - TDS

Research Team at TDS suggests that the US housing starts and building permits are expected to reveal a slowdown in residential construction for November.

Key Quotes

“TD looks for housing starts to pullback by 4.8% m/m to 1260k, reflecting a decline in both single and multi-unit starts though most of October’s recovery in the multi-unit segment should remain intact; the market is more downbeat and looks for a 1230k print.”

“We are roughly in line with consensus on permits and look for a 2.0% m/m decline to 1235k (mkt: 1240k), though today’s sizeable gain in the NAHB Housing Market Index skews the risk towards a stronger print.”

“Looking past the data, Richmond Fed President Lacker (2017 alternate voter) will be the first Fed official to speak following this week’s rate hike. Lacker will speak on a panel at the city of Charlotte’s Economic Outlook Conference for 2016 at 12:30 ET.”