It's The Economy Stupid: Housing Starts (and stops?)

Okay, let’s call the Housing Starts & Building Permits numbers as a mixed bag. 

 

Economic Event	Period	Economic Survey	Actual Reported	Original Prior	Revised Prior
Housing Starts	MAR	705K	654K	698K	694K
Housing Starts MoM	MAR	1.0%	-5.8%	-1.1%	-2.8%
Building Permits	MAR	710K	747K	717K	715K
Building Permits MoM	MAR	-0.7%	4.5%	5.1%	4.8%

 

The March Housing Starts number was the lowest since October of 2011, and well below the consensus estimate of economists.  The Month on Month percentage change kind of fell off the table at -5.8%.  That certainly is not good news.   The good news is that Building Permits in March were above economists consensus estimates at 747K. 

 

Yeah, let’s call it a mixed bag.

 

John Broussard

Assistant State Treasurer

Chief Investment Officer

State of Louisiana

Department of the Treasury

Ph:  225-342-0013

Fx:  225-342-9721

Email:  jbroussard@treasusry.state.la.us

Street Address:

445 North Blvd, 7^th Floor

Baton Rouge, LA 70802

Mailing Address:

P.O. Box 44154 Capitol Station

Baton Rouge, LA 70804-4154

Physical Location:

One City Plaza, 7th Floor

Corner of North Blvd & 4th Street

Exit 1B I-110 Convention Street,

Turn Left to get to North Blvd,

Turn Right on North Blvd