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Housing Starts Weakened as Expected in April

The leading construction indicators performed generally as analysts had predicted in April, stepping back from March's solid increases in both permits and housing starts.  Both sectors had been driven that month by surges in multi-family construction. The U.S. Census Bureau and the Department of Housing and Urban Development say that permits for private residential construction dipped by 1.8 percent in April to a seasonally adjusted annual rate of 1,352,000.  The March figure, originally estimated at 1,354,000 units, was revised up to 1,377,000.  

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