Thursday, May 17, 2007

Slow factory activity caused by home building slide

Home building to slow, factory activity up (Reuters)

Construction in the KB-Martha Stewart Olive Grove development continues in Perris, California May 2, 2007. The pace of U.S. home construction advanced by 2.5 percent in April to a rate that beat analysts' expectations but building permit activity, which signals future construction plans, sunk to the lowest pace in nearly a decade, a government report on Wednesday showed. (Mark Avery/Reuters)Reuters - Factory output picked up in April and groundbreaking on new homes unexpectedly rose, but permits for future home building slid to their lowest level in nearly a decade, signaling ongoing housing sector woes.


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