Thursday, 24 July, 2014

 
Published July 17, 2014
US housing starts dive in June
Nxy us housing business 1707

New US home construction fell sharply in June, and building permits also dropped, official data showed Thursday in a report signaling persistent weakness in the housing market - PHOTO: AFP 

[WASHINGTON] New US home construction fell sharply in June, and building permits also dropped, official data showed Thursday in a report signaling persistent weakness in the housing market.

Housing starts dived 9.3 per cent in June, to an annual rate of 893,000 units, their lowest level since September, the Commerce Department said.

Building permits, a forward-looking indicator of housing construction, fell 4.2 per cent to a rate of 963,000 units.

The department revised down its May number on housing starts to 985,000 from 1,001,000.