Economic news

U.S. housing falls for second consecutive month

U.S. house construction slumped for a second month in row in August due to drop in multifamily home segment. 

Pace of homebuilding fell 0.8 percent to a seasonally adjusted annual rate of 1.18 million units, according to the data from Commerce Department.

Hurricanes Harvey and Irma didn't appear to play a significant role in August housing construction decline.

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