US housing starts at 8-month low in May
Meanwhile, on a yearly basis, the housing starts decreased by 2.4%.
The data showed that building permits also fell by 4.9% to 1,168,000 in May from a revised 1,228,000 in the previous month, missing the expectations of a rise to 1,250,000. This was also the lowest level since April 2016 when housing starts stood at 1,163,000.
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