U.S. Housing Starts Unexpectedly Drop From Upwardly Revised Level

A report released by the Commerce Department on Tuesday showed new residential construction in the U.S. unexpectedly decreased in the month of May, although from an upwardly revised level. The Commerce Department said housing starts slid by 0.9 percent to an annual rate of 1.269 million in May from an upwardly revised April estimate of 1.281 million.Original Article