Housing Starts in U.S. Declined in August on Plunge in South

From bloomberg.com

New U.S. home construction fell more than projected in August as a plunge in the South more than offset gains in the rest of the country. Residential starts declined 5.8 percent to a 1.14 million annualized rate, from the prior month’s revised 1.21 million pace, a Commerce Department report showed Tuesday in Washington. The median estimate of economists surveyed by Bloomberg called for a drop to 1.19 million. Permits, a proxy for future construction, unexpectedly slipped on fewer applications for apartment projects. The figures represent a pause after a spell of strong gains, and permits show that single-family ... (full story)