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May Housing Starts -0.9% To Above-Expected..>

US DATA
US DATA: May Housing Starts -0.9% To Above-Expected 1.269M SAAR
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- May housing starts -0.9% to 1.269m SAAR vs 1.240m BBG & MNI
- May permits +0.3% to 1.294m SAAR vs 1.293m exp by BBG, 1.298m by MNI.
- The data suggest Q2 total starts faster than Q1, but 1-family slowing 
- May 1-family starts -6.4%, multi-family +10.9%. 
- May 1-family permits +3.7%, multi-family -5.0%
- April starts rev up to 1.281m SAAR, March rev up to 1.199m SAAR
- Housing under construction flat, completions -9.5%

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