By MARTIN CRUTSINGER, AP Economics Author
WASHINGTON (AP) — U.S. house development fell 6% in January however purposes for constructing permits, which generally sign exercise forward, rose sharply.
Final month’s decline pushed house and condominium development right down to a seasonally adjusted price of 1.58 million models in January, in contrast with 1.68 million in December, the Commerce Division reported Thursday.
Single-family development begins dropped 12.2% whereas development of condominium models rose 16.2%.
Functions for constructing permits, thought of a very good signal of future exercise, had been up 10.4% in January to an annual price of 1.88 million models.
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