Housing starts, building permits fall in August

Washington

US housing starts fell more than expected in August as building activity declined broadly after two straight months of solid increases, but a rebound in permits for single-family dwellings suggested demand for housing remained intact.

Ground-breaking decreased 5.8 per cent to a seasonally adjusted annual pace of 1.14 million units, the Commerce Department said on Tuesday. July's starts were unrevised at a 1.21 million-unit pace.