Today’s report on U.S. housing starts shows construction of apartments more than made up for a M/M decline in starts of single-family homes. There were 699,000 seasonally adjusted home starts in January; a 1.5% increase from December and the highest level since October 2008.
In Canada the report on December manufacturing sales shows an advance of 0.6% M/M. The 5th increase in 6 months was led by the transportation equipment industry. Durable goods sales rose 2.1% while non-durables fell 0.9%.
Tomorrow, both the Canadian and American January CPI figures are out.