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US Building Permits Sink For 3rd Straight Month
US Building Permits Sink For 3rd Straight Month After an unexpected plunge in January, February Housing Starts were expected to bounce back modestly (while building permits were expected to slow further) as the impact of storms fades. The analysts were right in direction but off in magnitude as, despite a slump in homebuilder sentiment, housing starts exploded 11.2% higher MoM (after dropping 11.5% MoM in January), well above all all estimates. Building Permits fell 1.2% MoM (just
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