Housing Construction Slows in January; Economists Blame Cold Weather

Summary

---

WASHINGTON (AP) -The number of housing projects builders broke ground on in January declined by the largest amount in nearly a year as bad winter weather played havoc with construction activity.

The Commerce Department reported Wednesday that the number of residential buildings under way dropped to a seasonally adjusted annual rate of 1.90 million units, representing a sharp 7.9 percent drop from December's stellar pace of 2.07 million units. That had been the best pace since February 1984.

See the full content of this document

Extract

---

Housing Construction Slows in January; Economists Blame Cold Weather

Although economists were predicting a slowdown in January from such lofty levels seen in ...

See the full content of this document

---