By Arizona Business Daily Reports
Arizona issued 3,230 building permits for privately owned housing during September, according to data obtained from the U.S. Census Bureau.
Economists follow building permits closely because they can be a barometer of economic activity with higher numbers signaling a surge in economic growth or lower numbers raising concerns of a coming downturn. Higher numbers can also indicate job expansion in the construction industry and more demand for related home products, such as appliances and furnishings.
Nationwide, 99,380 building permits for privately owned housing were issued in September.