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Housing starts little changed as US construction plateaus

from Bloomberg

New-home construction in the U.S. was little changed in May, a sign the residential real-estate industry will add little to economic growth in the second quarter. Housing starts in May fell 0.3 percent to a 1.16 million annualized rate from a 1.17 million pace the prior month, a Commerce Department report showed recently in Washington. The median forecast of 77 economists surveyed by Bloomberg was 1.15 million. Permits, a proxy for future construction, were also little changed from April. more


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