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Economy

US housing starts rise, but underlying trend weak

Updated : November 21, 2018 05:35 AM IST

Building permits fell 0.6 percent to a rate of 1.263 million units in October. Economists polled by Reuters had forecast housing starts rising to a 1.225 million-unit pace last month.
The struggling housing market is in stark contrast with the broader economy, which has enjoyed two straight quarters of robust growth and an unemployment rate at a near 49-year low of 3.7 percent.
US housing starts rise, but underlying trend weak
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