U.S. Housing Starts Drop 3.0% In August But Building Permits Rebound 3.5%

[Purveyor]

Source: RTTNews

September 17, 2015, 09:20:00 AM EDT

(RTTNews.com) - New residential construction in the U.S. decreased in the month of August, the Commerce Department revealed in a report on Thursday, although the report also showed a notable increase in building permits.

The report said housing starts fell 3.0 percent to an annual rate of 1.126 million in August from the revised July estimate of 1.161.

Economists had expected housing starts to drop to a rate of 1.168 million from the 1.206 million originally reported for the previous month, reflecting a 3.2 percent decrease.

While the rate of housing starts in July was downwardly revised, the June rate was upwardly revised to 1.211 million and was the highest since October of 2007.




Read more: http://www.nasdaq.com/article/us-housing-starts-drop-30-in-august-but-building-permits-rebound-35-20150917-00542