Housing Starts Rise

Wall St. Journal (8.17.10) – Housing starts increased by 1.7%, to a seasonally adjusted annual rate of 546,000, the Commerce Department said Tuesday, more than the 0.2% increase expected by economists. However, the increase was driven by groundbreakings of homes with five or more units, while key single-family housing starts plunged 4.2% and July building permits fell 3.1% to an annual rate of 565,000.

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