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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
US DATA
- Building permits were higher than expected in June at 1446k (cons 1400k) in June after an already known upward revised 1399k (initial 1386k).
- It saw permits rise 3.4% M/M, although it’s relatively tepid after three heavy declines worth more than 10% through Mar-May, leaving permits -3.1% Y/Y.
- The increase on the month was led by a spike in the typically volatile multi-unit sector (+15.6%) whereas single unit permits were -2.3%, a fifth consecutive monthly decline.
- This rolling over in single family permits has helped narrow what was an increasingly wide gap between the two - see chart - arguably of note with single unit home construction potentially having a higher multiplier to GDP than each unit in a multi-unit setting.
- Actual starts meanwhile were also higher than expected at 1353k (cons 1300k) after an upward revised 1314k (initial 1277k).
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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