Weak housing data boosted U. government bond prices and the U. stocks were still expected to open higher with investors more focused on healthy corporate profit reports. home construction starts fell . The Commerce Department said housing starts set an annual pace of . million units in September lower than the . million units expected by economists. It was the lowest pace for housing starts since the March rate of . There is no end in sight said Kurt Karl chief U. economist with Swiss Re in New York . The builders didn t realize how many cancellations they are going to face. If we hit . million start range it s consistent with recessions in the past. And we are heading in that direction. Building permits fell . percent the sharpest decline since January to an annual rate of . Economists polled by Reuters had forecast September permits to fall to a . million rate from the . million rate of August. percent rate last month after declining . percent ! rise and was the largest since a . percent jump in May. So called core prices that exclude food and energy costs were up . percent in September in line with economists expectations. Consumer prices in September were . percent higher than a year ago the largest month increase since a matching . percent gain in March department officials said. Core prices were up . percent on a year over year basis. So far in consumer prices have risen at a . percent annual rate well ahead of the . equity index futures were little moved by the housing and inflation data. Stocks were expected to open higher after a spate of stronger than expected quarterly earnings reports from U. blue chip companies such as Coca Cola Co . Ask the Experts at Countrywide . Try GFT Risk Free. com Free practice account with real time charts news and research. RELATED QUOTES DJI . com WaMu earnings miss the mark Time. Read today s column Personal Finance Get advice on how to manage the outcome of ! your income. Republication or redistribution of Reuters content is ex pressly prohibited without the prior written consent of Reuters.
Source: http://news.yahoo.com/s/nm/20071017/bs_nm/usa_economy_dc_6
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