Construction Down More than Predicted

Construction of new homes fell in September by a greater margin than predicted, the Associated Press reported Thursday. The Commerce Department said housing fell 10.2 percent in September. Building-permit applications, a key sign of the health of the construction industry, dropped 7.3 percent. Meanwhile, the National Association of Home Builders reported this week that its builder index, which measures builder confidence, fell this month to 18, the eighth consecutive monthly decline, AP reported.