US housing starts drop 6.8% in March

Fuente:
USCensus/Fordaq
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New residential construction in the U.S. pulled back sharply in the month of March, according to a report released by the US Commerce Department.

Housing starts plunged by 6.8 percent to an annual rate of 1.215 million in March from an upwardly revised 1.303 million in February.

Economists had expected housing starts to drop by 2 percent to a rate of 1.262 million from the 1.288 million originally reported for the previous month.

Meanwhile, the Commerce Department said building permits, an indicator of future housing demand, jumped by 3.6 percent to a rate of 1.260 million in March from a revised 1.216 million in February.

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