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• Prior month 1.366M revised to 1.350M
• Housing starts vs 1.501m vs 1.380M estimate.
• Prior month building permits 1.483M
• Building permits 1.456M vs 1.453M estimate

Details from the US Census

Building Permits:

• Total: 1.456 million (↓ 1.2% from January, ↓ 6.8% from Feb 2024)
• Single-family: 992,000 (↓ 0.2% from January)
• Multi-family (5+ units): 404,000

Housing Starts:

• Total: 1.501 million (↑ 11.2% from January, ↓ 2.9% from Feb 2024)
• Single-family: 1.108 million (↑ 11.4% from January)
• Multi-family (5+ units): 370,000

Housing Completions:

• Total: 1.592 million (↓ 4.0% from January, ↓ 6.2% from Feb 2024)
• Single-family: 1.066 million (↑ 7.1% from January)
• Multi-family (5+ units): 512,000

In other US data,

• Import prices for February rose 0.4% versus -0.1% estimate. Prior month rose by 0.4%
• export prices rose 0.1% versus -0.2% estimate. Last month export prices rose 1.3%
• Import prices year on year are up 2.0% versus 1.6% expected

As the US situation unfolds, import prices will be eyed more closely.