U.S. October new residential building activity to show positive sign

In the United States, the new residential building activity data for October is likely to publish tomorrow.

The number of single-family homes as well as of multifamily units is likely to post a solid growth rate.

"Buoyed by unusually warm and dry weather conditions in the continental US, the number of new housing units started probably climbed by 1.2% to an eight-year high seasonally adjusted annual rate of 1.22 million units in October", estimates Societe Generale.