Apr
19
Housing Starts in U.S. Slumped More Than Forecast in March
By-
Retreat was broad-based with single- and multifamily weak
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Permits also declined, lowering the odds of a quick rebound
New-home construction in the U.S. slumped more than projected in March, reflecting a broad-based retreat that showed the industry lost momentum heading into the busiest time of year.
Residential starts decreased 8.8 percent to a 1.09 million annualized rate that was the lowest since October and weaker than any forecast of economists surveyed by Bloomberg, Commerce Department data showed Tuesday in Washington. Permits, a proxy for future construction, also dropped…
Housing Starts in U.S. Slumped More Than Forecast in March
