Here come housing starts ...
The Census Bureau will release data on housing starts and building permits at 8:30 a.m. ET.
Economists estimate that in September, housing starts grew 1.4% month-on-month at an annualized pace of 1.142 million, according to Bloomberg.
They forecast that building permits growth was 0%, at an annualized pace of 1.170 million.
In a preview to clients, Credit Suisse wrote, "We expect total housing starts to remain roughly unchanged in September. Leading indicators such as building permits point to solid performance in both single-family and multifamily housing. Notably, multifamily construction has been driving the growth in housing starts in this cycle, with its share almost doubled compared to the pre-crisis trend. Multifamily construction is largely fueled by rental demand and the strength is expected to persist."
We'll be back with the latest once the data cross.