85.7 F
San Fernando
Saturday, May 25, 2024

Housing starts up but manufacturing sector still ailing

WASHINGTON — The economy took two steps forward and one step back in May as housing starts picked up but industrial production fell more than expected. Housing starts jumped higher than expected, as did building permits, offering a glimpse of future building activity. Together both pieces of data suggested the housing slump might be closer to bottoming out and will stop being a drag on the economy. For the full story click here

Featured Articles

Related Articles