The US Housing Starts for May plummeted to 593 thousand or -10.0%; worse than the forecasted 648 thousand or -3.7% and the prior revised reading of 659 thousand or 3.9% from 672 thousand or 5.8%.

As for the Building Permits for the same period, they have also dropped to 574 thousand or -5.9%; worse than the forecasted 652 thousand or 2.5% and the prior revised reading of 610 thousand or -10.9% from 606 thousand or -11.54%.