U.S. Housing Starts Pull Back Sharply In July But Building Permits Jump

A report released by the Commerce Department on Wednesday showed a sharp pullback in new residential construction in the U.S. in the month of July. The Commerce Department said housing starts plunged by 7.0 percent to an annual rate of 1.534 million in July after jumping by 3.5 percent to a revised rate of 1.650 million in June.Original Article