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US housing starts fall in March

by ChemOrbis Editorial Team -
  • 19/04/2017 (13:56)
According to data from the US Commerce Department, US housing starts decreased in March after a rebound in February.

The data from US Census Bureau and the Department of Housing and Urban Development reveals that privately owned housing starts stood at 1,215,000 in March with a decrease of 6.8% month-on-month from a revised 1,303,000 registered in February. Market expectations were calling for housing starts to stand at 1,262,000 in March, down by 2% from the previous month.

However, housing starts were up by 9.2% in March year-on-year

Meanwhile, building permits in March was up by 3.6% month-on-month to reach 1,260,000 and stood above the expectations of an increase of 3.1%, the data showed. Building permits also increased by 17% year-on-year.
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