Macroeconomic Insights

Economics US US housing starts contracted by 2.6% m/m in April, from -6.6% previously, worse than expectations for growth of 3.7%. the slump was driven bymultifamily home starts, which contracted 9.2%. Building permits fell 2.5% m/m in April, from 3.4% growth in March, worse than consensus of +0.2%. Lower building…