Business Outlook: THE WEEK AHEAD
Wednesday, Sept. 21, 8:30 a.m.
Housing starts probably slipped to an annual rate of 1.4 million in August, say the MMS economists. In July, starts bounced back by 4.7%, to 1.42 million, after bad weather in June. The August number is indicated by the small decline in construction payrolls last month, as well as the decline in loan applications to buy a home. Higher mortgage rates are starting to crimp building activity. Housing starts peaked back in the fourth quarter of 1993.JAMES C. COOPER AND KATHLEEN MADIGAN