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Financial News Network
February 17, 2011 AT 10:34 AM
U.S. Housing Starts were up 14.6% in January to 596,000. That's the most residential construction projects started since September. Economist projections were shy of the actual number, set at 540,000. Building permits were down however, 10.4% to 562,000. The numbers represent a reverse to what we saw in December, where housing starts declined and building permits gained. These monthly figures are however volatile, so as you look at the 5-month moving average, you can see that the data is continuing it's relatively plateaued trajectory.As the news is reported, all three major U.S. indices are down over -0.3%. The Nasdaq closer to -0.5%.