US housing starts hit a year-low in September
by ChemOrbis Editorial Team - content@chemorbis.com
According to data released by the US Commerce Department, total housing starts in the US slumped to their lowest level in a year in September. Housing starts plunged by 4.7% on the month to an annual rate of 1,127,000.
The bigger-than-expected decrease marked the lowest level for housing starts since hitting 1,062,000 million units in September 2016.
Building permits also fell by 4.5% on the month to reach 1,125,000 units in September from 1,300,000 units in August.
Meanwhile, the US Commerce Department noted that housing starts in September increased by 6.1% on a yearly basis, while building permits were down 4.3% compared to the same month of 2016.
The bigger-than-expected decrease marked the lowest level for housing starts since hitting 1,062,000 million units in September 2016.
Building permits also fell by 4.5% on the month to reach 1,125,000 units in September from 1,300,000 units in August.
Meanwhile, the US Commerce Department noted that housing starts in September increased by 6.1% on a yearly basis, while building permits were down 4.3% compared to the same month of 2016.
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