FXstreet.com (Barcelona) - Starts of new houses have declined again in the United States in February after a considerable increase posted in the previous month, the outlook for the housing market over next months does not seen much better either, as building permits have sunken below the 1 million annual rate.

Housing starts have decreased by 0.6% to an annual rate of 1.065M in February from the 1.071M rate of January, revised up from the 1.012M rate previously estimated. On the year, housing starts have declined 36.5% from February 2007 annual rate of 1.541M.

Building permits, a gauge observed to assess the construction activity trends over the forthcoming months, have sunken 7.8% to an annual rate of 978.000 from the 1.061M annual rate posted in January.