U.S. Housing Starts Drop in September Amid Hurricane Florence
Investing.com - The number of housing starts issued in the U.S. fell more than forecast in September, negatively impacted by Hurricane Florence, while building permits also declined.
The data underlined concerns over the health of the U.S. housing sector, which has been a weak spot in a robust economy.
Housing starts dropped 5.3% to a seasonally adjusted 1.201 million units last month, the U.S. Commerce Department said.
Analysts had expected a dip of 4.5% to 1.220 million from a downwardly revised 1.268 million units in August.
The number of building permits issued declined 0.6% to a seasonally adjusted 1.241 million units from 1.249 million.
Economists had forecast a gain of 2.1% to 1.278 million units in September.
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