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November U.S. housing starts fell 3 per cent month-over-month to 861kClick Here For Updates >
Economists were expecting a reading of 872k for starts, down October.
While this is a crucial economic indicator, it may just be noise for now.
Economists have been having difficulty factoring in the impact of Hurricane Sandy related disruptions in the short term.
However, in the intermdiate term, economists expect starts to accelerate driven by post-Sandy rebuilding efforts.
It’s worth noting that building permits are up 3.6 per cent.