US housing starts slump in January, miss forecasts
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Homebuilders in the US broke ground on fewer homes than expected in January.
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According to the Department of Commerce, in seasonally adjusted terms, the annualised rate of housing starts fell at a month -on-month pace of 6.0% to reach 1.58m (consensus: 1.65m).
Last month's drop also drove starts 2.3% below their year earlier level.
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