U.S Building Permits
Rep: 1.495m ✅Higher Than Expected ✅
Exp: 1.480m
Prev: 1.467m
This chart is very similar to the Housing Starts chart I just shared in that it is in a long term uptrend since March 2009 (slightly before above charts April 2009). However there are a few differences. The drop in permits now versus 1998-2000 period is much much sharper.
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Here's a chart of the relationship between building permits (which come out this week) interest rates, and recessions.
When rates rise permits drop and recession follows.
This week's building permit numbers could be are not likely to be good.