New home starts dipped 5.4%, led by single family starts down 6.0%.
Total starts came in at 1.142 million (SAAR), well under the consensus estimate of 1.190 million, and beneath the entire Econoday Range of 1.170 million to 1.220 million.
Nonetheless the Econoday robot said the “details are not as weak as the headlines”. Let’s investigate the claim.
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