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George Pearkes
peark.es
did:plc:pnx2fjuannbdpy3337ggthpp
Residential construction data not great. Starts down 10% MoM versus a ~1% drop expected, permits (better indicator) down 2% MoM versus flat expected. Lowest permits print since 2020 and we're clearly in a retrenchment cycle here, which tends to work pretty well as a recession indicator.
2025-06-18T13:19:07.885Z