Housing starts fell by 2.6% to a 1.275 million annual rate in August, with single-family housing starts higher but multi-family starts lower.
Building permits fell by 2.7% to a 1.394 million rate in August. Both single-family and multi-family permits declined. Homes permitted but not started increased by 0.7%.
The number of homes under construction rose modestly in the month, but the number of completions declined, which should subtract from the supply of homes for sale in the near term. Completions are 27.1% below their year-ago level.
The Philadelphia Federal Reserve's manufacturing reading fell to 37.8 in September from 47.4 in August, reflecting index declines in new orders, inventories and employment and an unchanged reading for shipments, offset by an increase in prices paid.
Initial jobless claims decreased by 10,000 to 196,000 in the employment survey week ended Sept. 12, trimming the four-week moving average by 2,750 to 203,250, a second straight decrease.
Initial claims were at a level of 207,000 in the employment survey week ended Aug. 15.
Insured claims declined by 39,000 to 1.730 million in the week ended Sept. 5.
Natural gas stocks rose by 44 billion cubic feet to 3.298 trillion cubic feet in the week ended Sept. 11, down 3.6% from a year earlier but 3.7% higher than the seasonal average for the current week over the previous five years.
The National Association of Realtors' pending home sales index rose by 0.3% in August, above expectations despite an increase in mortgage rates. Pending sales were still down 4.7% from a year earlier.
The NAR's existing-home sales data for September are scheduled for release on Oct. 13.
The Q3 GDP nowcast estimate from the Atlanta Fed is for a 5.1% gain, unrevised from the previous estimate.