US housing starts decline in October
Number of housing starts in October reaches 1.24M, down 4.6% month-on-month
By Mucahithan Avcioglu
ISTANBUL (AA) - The number of new housing starts in the US fell 4.6% on a monthly basis in September to 1.24 million, the US Census Bureau said Friday.
It was down from September's 1.3 million. The September and October data releases were delayed due to the government shutdown.
On a yearly basis, the number of new housing starts also dropped 7.8% in October.
Meanwhile, the number of building permits issued in the country, a key indicator of market demand, fell 0.2% month-on-month to 1.41 million in October, while the expectation was for 1.42 million.
The number of building permits also fell 1.1% on an annual basis in October.
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