17th Jun 2016 12:49
WASHINGTON (Alliance News) - New residential construction in the US saw a modest decrease in the month of May, according to a report released by the Commerce Department on Friday.
The report said housing starts edged down by 0.3% to an annual rate of 1.164 million in May from the revised April estimate of 1.167 million.
Economists had expected housing starts to dip to a rate of 1.150 million from the 1.172 million originally reported for the previous month.
Copyright RTT News/dpa-AFX