The number of new home starts in the US plummeted 5.2% to 1.221,000 units in September, falling short of market expectations. Single-family housing starts fell 4.6%, multi-family housing starts fell 6.7%, and construction permits fell slightly by 0.2% month-on-month. Despite weak real estate data, Goldman Sachs maintained its forecast of 3.3% annualized growth in US GDP for the third quarter.

The number of new home starts in the US plummeted 5.2% to 1.221,000 units in September, falling short of market expectations. Single-family housing starts fell 4.6%, multi-family housing starts fell 6.7%, and construction permits fell slightly by 0.2% month-on-month. Despite weak real estate data, Goldman Sachs maintained its forecast of 3.3% annualized growth in US GDP for the third quarter.