Housing Starts Rise in May

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Construction of new homes and apartments, after posting three straight months of declines, increased in May, helped by dry weather. The Commerce Department reported that builders started construction at a seasonally adjusted annual rate of 1.957 million units last month, an increase of 5 percent from the April construction pace. The better-than-expected increase came after declines of 5.5 percent in April, 7.5 percent in March and 5.9 percent in February.





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