Housing Starts Lower.

Housing Starts (August 2015)

– Starts seasonally adjusted, annualized  1,126,000. Previous was 1,161,000
– Permits seasonally adjusted, annualized  1,170,000. Previous was 1,130,000.

We need 1,500,000 annual Housing Starts to accommodate a growing population and replacement of homes destroyed or scrapped.

 
Initial Jobless Claims (week ended 9/12/2015)

– New Claims seasonally adjusted 264,000. Previous was 275,000
– New Claims , unadjusted, totaled 198,597 a decrease of 33,910 from previous
– 4-week Moving Average seasonally adjusted 272,500. Previous was 275,750

 
Philadelphia Federal Reserve Business Outlook Survey (September 2015)

– General Business Conditions Index  -6.0. Previous was 8.3.

This is the second weak regional report this week.  The New York Fed reported -14.67 on Tuesday.