US housing starts on the red in April

Fuente:
USCensus/Fordaq
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After a sharp drop in the previous month, according to a report of the US Commerce Department, the US housing starts showed an unexpected further decline in the month of April. 

US housing starts dropped 2.6 percent to an annual rate of 1.172 million in April after tumbling by 6.6 percent to a revised 1.203 million in March.

The unexpected decrease reflected a steep drop in multi-family housing starts, which plunged by 9.2 percent to 337,000 in April from 371,000 in March.

On the other hand, the Commerce Department said single-family starts edged up by 0.4 percent to a rate of 835,000 in April from 832,000 in March.

Building permits slid by 2.5 percent to a rate of 1.229 million in April from 1.260 million in March.

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