New U.S. home construction fell more than projected in August as a plunge in the South, the biggest region for building, more than offset gains in the rest of the country. Residential starts declined 5.8 percent to a 1.14 million annualized rate, from the prior month’s revised 1.21 million pace, a Commerce Department report showed Tuesday in Washington. The median estimate of economists surveyed by Bloomberg called for a drop to 1.19 million.
Permits, a proxy for future construction, unexpectedly slipped on fewer applications for apartment projects. Permits decreased 0.4 percent to a 1.14 million annualized rate. They were projected to rise to a 1.17 million rate, according to the survey median.
Euro is currently being traded around 1.1160 level, Sterling is at 1.2980 area, while Aussie is at 0.7550 handle.
UK still likely to leave the EU with a negotiated agreement, says Number 10
Sentix Investors Confidence rose to 14.7 in August
German factory orders -4.0% seasonally adjusted on the previous month
China's July exports growth still seen holding up despite U.S. tariffs: Reuters poll
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