US Housing Starts/Permits Ugly In April After Huge Revisions
Despite aplunge in sentiment and soaring mortgage rates,analysts expected Starts and Permits to increase in April.
They were half right, but both missed bigly - as Starts rose 5.7% MoM (below the +7.6% exp), up from a downwardly revised 16.8% plunge in March; Permits dropped 3.0% MoM (well below the +0.9% exp), but better than the downwardly revised 5.0% drop in March.
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