The Commerce Department’s U.S. Census Bureau today released data on new residential construction in September 2010. Permits for new housing units declined 5.6 percent compared with a small expected increase by private-sector forecasters. Housing starts in September increased 0.3 percent following a large gain in August. Analysts were expecting a modest decline.
“A sustained upturn in housing activity requires stronger growth in jobs and income, but home builders have made progress that will help solidify future growth in housing starts,” U.S. Commerce Secretary Gary Locke said. “The efforts of President Obama and this administration remain tightly focused on ensuring that the jobs market continues to recover and our economy continues to grow.” Report
Source: U.S. Department of Commerce
