U.S. Housing Starts Increased in October
Underlying figures, however, signal weakness in the construction pipeline
U.S. housing starts rose last month on a bounceback in multifamily building, but underlying figures signal weakness in the construction pipeline.
Housing starts climbed 1.5% in October from the prior month to a seasonally adjusted annual rate of 1.228 million, the Commerce Department said Tuesday. The growth was due to a rebound in construction of buildings with two or more units. Starts fell in October for single-family construction.
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