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 this morning.
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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.
Meanwhile, the 573,000 September level of private housing building permits came after a revised 580,000 figure, which was originally reported as 579,000. Economists had estimated 600,000 in building permits.
