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Sept housing starts -4.7% to 1.127m SAAR,...>

US DATA
US DATA: Sept housing starts -4.7% to 1.127m SAAR, below the 1.170m 
rate expected following mixed revisions to the previous two months. 
Starts were -9.3% in the South region, likely reflecting some hurricane 
impact, but Commerce did not comment on the impact on the September 
data. Starts also down in NE and MW, up in West. Single-family starts 
-4.6%, while multi-family starts -5.1%. Building permits -4.5% to 1.215m 
SAAR, but single-family +2.4% and multi-family -16.1%. Completions +1.1% 
to 1.109m SAAR. 3Q average for starts roughly unch from 2Q average, but 
permits up modestly. The NAHB's index for Oct rebounded sharply when it 
was reported Tuesday from the dip in Sept when builders were concerned 
about labor and materials shortages. See MNI main wire. 
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