US: Housing starts declined 11.2% in December vs -0.5% expected

"Privately‐owned housing starts in December were at a seasonally adjusted annual rate of 1,078,000," the U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced on Tuesday.

Key takeaways from the press release

• This is 11.2 percent below the revised November estimate of 1,214,000 and is 10.9 percent below the December 2017 rate of 1,210,000. 
• Privately‐owned housing units authorized by building permits in December were at a seasonally adjusted annual rate of 1,326,000.
  • This is 0.3 percent above the revised November rate of 1,322,000 and is 0.5 percent above the December 2017 rate of 1,320,000.