Housing and Building: Housing reports released this week indicate continued softness in the sector. Housing Starts were down 12.4% in July (MoM). The annualized number of new residential buildings fell from 1.415M (Jun) to 1.239M (Jul). Pending Home Sales also slid 2.3% in July (MoM).
Be sure to check out more of last week’s leading indicators here. Stay tuned for Market Thoughts.
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