Economic news

Fall in September U.S. home construction stronger than expected

Construction of new homes in the U.S. dropped 4.7% to 1.13 million units in September, according to the Commerce Department.

Application for new building permits slumped 4.5 percent in September to 1.22 million units in annual terms.

In the coming months, figures in the U.S. housing market are likely to wobble due to hurricanes that affected the second and third most populous states of the country (Texas and Florida).

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