Economy

Follow coverage of the U.S. and global economy, jobs and unemployment; banking; interest rates and other decisions by the Federal Reserve (Fed) and Chair; and economic indicators such as the gross domestic product (GDP), factory orders and durable goods. Other topics include the federal budget deficit and national debt, and local economic columnist Jon Talton.

US home building fell 4% in July, slowing housing market

In this June 19, 2019, photo a worker balances on a steep roof as he lays down shingles on a roof on a new house in a Brandon, Miss., neighborhood. Government data on residential construction should provide insight into the state of the new home market. The Commerce Department is expected to report Wednesday, July 17, that builders broke ground on new apartments and single family homes in June at the slowest pace since February (AP Photo/Rogelio V. Solis) NYBZ136 NYBZ136

WASHINGTON (AP) — The pace of U.S. home construction fell a sharp 4% in July despite strong demand from would-be buyers, held back by a shortage of skilled labor and affordable land. The Commerce Department said Friday that housing starts slipped last month to a seasonally adjusted annual rate of 1.19 million units. So far...

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