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US housing starts edge up in September

by ChemOrbis Editorial Team -
  • 17/10/2014 (16:53)
US housing starts rose in September after decreasing in August, according to the US Commerce Department. New housing starts climbed 6.3% to 1.02 million units on the year in September after posting an annual pace of 957,000 in the previous month.

Construction of single-family houses increased 1.1% year over year to 646,000 units from 639,000 posted in the previous month, while starts for multifamily houses jumped 16.7% to an annual rate of 371,000. Within the region, housing starts in the Northeast rose 5.5% while starts were up 4.2% and 3.5% in the South and West, respectively.

Meanwhile, building permits in the US also climbed 1.5% to reach a 1.02 million annualized pace in September, pointing to a stably increasing trend in the construction sector.
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