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U.S. housing starts unexpectedly fall for second straight month

Reuters  |  WASHINGTON 

WASHINGTON (Reuters) - U.S. homebuilding unexpectedly fell in April amid a persistent decline in the construction of multi-family housing units and a modest rebound in single-family projects, pointing to a slowdown in the housing market recovery.Housing starts dropped 2.6 percent to a seasonally adjustedannual rate of 1.17 million units, the Commerce Department saidon Tuesday. That was the lowest level since last November andfollowed a downwardly revised rate of 1.20 million units inMarch.Economists polled by Reuters had forecast groundbreakingactivity rising to a rate of 1.26 million units ...

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First Published: Tue, May 16 2017. 18:05 IST
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