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WASHINGTON, Jan 19: US housing starts slumped 8.9 per cent in December to a seasonally adjusted annual rate of 1.933 million units, the government reported on Thursday. The figure was the lowest since March and well below the average Wall Street estimate of 2.05 million. It also provides further evidence of a cooling of the sizzling US property market.
Building permits — which foreshadow future activity — fell 4.4 per cent to an annual rate of 2.068 million in December, according to the Commerce Department report.—AFP
