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U.S. building permits decline unexpectedly in February

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Forex Pros - The number of building permits issued in the U.S. fell unexpectedly in February, official data showed on Wednesday.

In a report, the U.S. Census Bureau said the number of building permits issued in February fell by 8.2% to a seasonally adjusted 0.52 million, down from 0.56 million in January.

Analysts had expected building permits to rise to 0.57 million in February.

The report also said that U.S. housing starts fell more-than-expected in February, dropping by 22.5% to a seasonally adjusted 0.48 million, down from 0.62 million in January, whose figure was revised up from 0.60 million.

Analysts had expected housing starts to decline to 0.58 million in February.

Following the release of the data, the U.S. dollar was up against the euro, with EUR/USD shedding 0.21% to hit 1.3967.

Meanwhile, the outlook for U.S. equity markets was downbeat. The Dow Jones Industrial Average futures pointed to a loss of 0.08%, S&P 500 futures indicated a drop of 0.11%, while the Nasdaq 100 futures pointed to a decline of 0.07%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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