US DATA: Jan housing starts +1.5% to 699k, exceeding.

US DATA: Jan housing starts +1.5% to 699k, exceeding the 680k
expected. Up 9.9% vs Jan 2011 (636k). Dec housing starts revised up to
689k from 657k. Single family starts -1.0% to 508k, but multi-family
+8.5% based on MNI calculations, with buildings with 5 units or more
+14.4% to 175k. Building Permits +0.7% to 676k, Dec revised down to 671k
from 679k. Housing completions -12.0% to 530k from 602k in Dec. Homes
permitted but not started fell 1.9%, but homes under construction up
1.2%.