FXstreet.com (Barcelona) - After October's promising pick up in housing construction, in November, both housing starts and building permits have posted declines compared to the previous month, according to data released by the US Census Bureau.

Starts of new houses have decreased in November by 3.7% to an annual rate of 1.187 million houses, from the revised 1,232,0million houses in October, and 24.2% below the 1.565 million in November 2006. The decline, nevertheless, has not been as steep as the 5.7% advanced by market analysts.

Building permits, a gauge observed to assess future trends in the housing construction, has declined 1.5% to 1,152 million annual rate from the 1.170 million annual rate posted in October.