US: Pace of residential construction expected to slow - TDS

Research Team at TDS, suggests that the pace of US residential construction is expected to slow in March as TD looks for housing starts to decline to by 2.6% m/m to 1147k units.

Key Quotes

“This forecast presents a downside risk to the market consensus of 1168k, and reflects a giveback from the previous month’s 5.2% monthly advance as well as souring homebuilder sentiment. Permit activity is expected to decrease by 0.6% m/m (market: +2.0% m/m).

CAD: Bank of Canada Governor Poloz and Senior Deputy Governor Wilkins are due to testify before the House of Commons Finance Committee.”