Building permits, housing starts data to shape Tuesday's economic outlook

As traders approach another pivotal day for financial markets, a series of crucial economic data releases that could sway market dynamics are expected on Tuesday, November 19, 2024. The spotlight will be on the housing sector, with building permits data taking center stage, offering insights into the health of the construction industry and broader economic trends.

Major Economic Events to Watch

• 8:30 AM ET - Building Permits (Oct): Forecast 1.440M, Previous 1.425M. This key indicator of housing market demand measures the change in new building permits issued.

Other Important Economic Events to Watch

• 8:30 AM ET - Housing Starts (Oct): Forecast 1.340M, Previous 1.354M. This measure of new residential construction activity is a leading indicator of housing sector strength.

• 8:30 AM ET - Building Permits (MoM) (Oct): Previous -3.1%. Month-over-month change in building permits provides insight into near-term construction trends.

• 11:30 AM ET - Atlanta Fed GDPNow (Q4): Forecast 2.5%, Previous 2.5%. This running estimate of real GDP growth offers a snapshot of current economic performance.

• 4:30 PM ET - API Weekly Crude Stock: Previous -0.777M. This report on US crude oil inventory levels provides an overview of petroleum demand.

Other Economic Events to Watch

• 8:55 AM ET - Redbook (YoY) (Nov 13): Previous 4.8%. This index tracks year-over-year same-store sales growth in large US general merchandise retailers.

• 1:10 PM ET - Fed Schmid Speaks. Comments from the Kansas City Fed president may offer clues on FOMC's economic assessment and policy outlook.

For further information and the latest updates, please refer to our Economic Calendar, here.

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Source: Investing.com