A number of indicators now point to a slowdown for our previously red-hot economy. And a brand-new report from the Federal Reserve talks of “scattered signs of cooling.”
As we report in this Trends and Statistics issue (coverage of which continues on page 24), various economic factors are taking a downward tilt. Although we note that April housing starts were still solidly positive at 3% over March and 7% over April 1999, building permits slipped down 1% compared to March and down 1% compared to April of last year. Fewer permits will lead to fewer starts down the road.