Here come housing starts ...

It’s Fed day in America, but before this afternoon’s meeting, we’ve got some US economic data on deck.

The August report on housing starts and building permits is set for release at 8:30 am ET, with expectations for starts to fall 3.8% in August after a slim 0.2% increase in July.

Building permits are expected to rise 2.5% in August after a big 15.5% drop in July that followed a big run-up this spring.

Overall, housing starts are near their best level since the financial crisis, and the housing market overall has been one of the bright spots in the economy over the last year.

We’ll be back with the live numbers when they drop.

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