US: Housing starts and building permits data likely to decline in November - Rabobank

Analysts at Rabobank suggests that after the spike in US housing starts in October, markets are bracing for a retreat in November.

Key Quotes

“The consensus forecast is a decline to 1230K from 1323K. While building permits rose less impressively in October, markets are also expecting a decline in this more forward-looking indicator of the housing market. Nevertheless, yesterday’s NAHB housing market index suggests that housing starts and building permits should be well supported going forward, with residential investment making a positive contribution to Q4 GDP growth.”