Building Permits in 2015
Building Permits opened 2015 at 1,049 and closed at 1,211, a +15.44% move for the year. The high of 1,379 was reached on June 1, and the low of 1,049 on January 1.
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Jan | 1,049 | 1,049 | 1,049 | 1,049 | +0.00% |
| Feb | 1,127 | 1,127 | 1,127 | 1,127 | +0.00% |
| Mar | 1,072 | 1,072 | 1,072 | 1,072 | +0.00% |
| Apr | 1,166 | 1,166 | 1,166 | 1,166 | +0.00% |
| May | 1,272 | 1,272 | 1,272 | 1,272 | +0.00% |
| Jun | 1,379 | 1,379 | 1,379 | 1,379 | +0.00% |
| Jul | 1,140 | 1,140 | 1,140 | 1,140 | +0.00% |
| Aug | 1,165 | 1,165 | 1,165 | 1,165 | +0.00% |
| Sep | 1,144 | 1,144 | 1,144 | 1,144 | +0.00% |
| Oct | 1,160 | 1,160 | 1,160 | 1,160 | +0.00% |
| Nov | 1,244 | 1,244 | 1,244 | 1,244 | +0.00% |
| Dec | 1,211 | 1,211 | 1,211 | 1,211 | +0.00% |
Events During 2015
The PBoC devalued the yuan by 1.9% in a single day on August 11, 2015, the first meaningful devaluation since 1994. Global risk assets convulsed.
Brent crude fell from $115 in June 2014 to $27 in January 2016, a 77% collapse. Shale oversupply and OPEC's refusal to cut production broke the commodity supercycle that had dominated markets since 2003.
The Swiss National Bank abandoned its 1.20 EUR/CHF floor on January 15, 2015. The franc immediately surged 30%, blowing up retail FX brokers and exposing the fragility of exchange rate commitments.
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