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Last Week’s Highlights
US Housing Data Hit Hard by the Pandemic
The monthly housing starts data, which is a measure of the number of new residential construction projects, fell 22.3% in March. Data from the Commerce Department showed that housing starts fell to an annual rate of 1.216 million during the month.
Building permits, which are an indicator of future housing demand, fell 6.8% during the month to 1.353 million units. The data comes on the back of weak economic reports for the month of March.
The United States was hit hard during the period amid lockdown measures across various states.
US Retail Sales Fall 8.7% in March
Data from the Commerce Department in the United States showed that retail sales fell 8.7% in March. The data reflected the impact of the Coronavirus induced lockdowns.
The decline in March comes on the back of a 0.4% fall in February. Economists forecast a 8.0% decline for M...
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