US residential construction is slowing down


The number of homes under construction in the United States fell by 8.7 percent in February compared to a month earlier, Department of Commerce reports.

The construction amounted to just under 1.2 million homes on an annual basis. In general, economists had expected housing to fall by 1.6 percent. According to a new estimate, housing construction increased by 11.7 percent in January.

The ministry also announced that the number of building permits issued in February fell by 1.6 percent. Economists predicted an average drop of 0.9 percent.

By: Abaigael Schlomski

Abaigael Schlomski is an accomplished economist and financial journalist with over a decade of experience in the industry. He is a regular contributor to EconomicInform, where he provides in-depth analysis and expert commentary on the latest economic trends and events. With a keen understanding of the financial markets and a talent for breaking down complex economic concepts for a general audience, Maurice is a trusted and respected voice in the field.

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