Flash: August Housing Starts Come In Weak
August Housing Starts hit 750,000 for a gain of +2.3% but the prior month was revised to -2.8% from -1.1% originally set.
Consensus estimates: Dow Jones had a target of +2.5% on housing starts; Bloomberg was calling for +2.9% to 768,000 in housing starts.
QE3 is still dominating headlines.
Bloomberg notes that a housing start is registered at the start of construction of a new building intended primarily as a residential building at the beginning of excavation of the foundation for the building.
MORE DATA TO FOLLOW
Filed under: 24/7 Wall St. Wire, Economy, Housing