WASHINGTON — Groundbreaking for new U.S. home construction was up 0.5% in September to 590,000, while private housing permits fell 1.2% to 573,000, according to Commerce Department data released yesterday.

The 590,000 rate for private housing starts followed a revised 587,000 figure in August, initially reported as 598,000. But it was lower than the 610,000 level predicted by a median estimate of economists polled by Thomson Reuters.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.