US homebuilding fell more than expected in December, recording its biggest drop in just over a year, likely as unseasonably cold weather at the end of the month disrupted the construction of single-family housing units. The steep drop in groundbreaking activity probably will be temporary against the backdrop of a tightening labor market. Other data on Thursday showed the number of Americans filing for unemployment benefits dropped to a 45-year low last week. "Housing starts were held down by the cold winter weather but should bounce back quickly in coming months as the ...
By continuing to use this site you consent to the use of cookies on your device as described in our Cookie Policy unless you have disabled them. You can change your Cookie Settings at any time but parts of our site will not function correctly without them.
This article is no longer available in our repository.
There could be multiple reasons for this.
You could try searching for this headline on the source website (reuters.com).