US August housing starts 1282K vs 1238K expected

Jump in housing starts

• Prior was 1168K (revised to 1174K)

• Housing starts up 9.2% vs +5.7% expected

• Building permits 1229K vs 1310K expected

• Prior permits 1303K

Housing starts have been in a rut so the rebound close to 1300K is a better sign for an underperforming part of the US economy. However the continued weakness in permits isn't a great signal going forward.