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U.S. building permits rise 14.3% in April; housing starts fall 16.5%

Economic IndicatorsMay 16, 2013 08:37AM ET
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Investing.com - The number of building permits issues in the U.S. increased more-than-expected to hit the highest level in five years in April, official data showed Thursday.

The report also showed that housing starts fell significantly, painting a mixed picture of the U.S. housing sector.

In a report, the U.S. Census Bureau that the number of building permits issued in April rose 14.3% to a seasonally adjusted 1.017 million, above expectations for a 3.8% increase to 0.973 million units.

Building permits issued in March totaled 0.890 million units.

The report also showed that U.S. housing starts fell by 16.5% last month to a seasonally adjusted 0.853 million, compared to expectations for a decline of 6.4% to 0.973 million.

Housing starts for March were revised down to 1.021 million units from a previously reported 1.036 million units.

Following the release of the data, the U.S. dollar turned lower against the euro, with EUR/USD jumping 0.21% to trade at 1.2915.

Meanwhile, U.S. stock future indices erased modest gains to turn mixed. The Dow Jones Industrial Average futures fell 0.1%, S&P 500 futures pointed to a loss of 0.2%, while the Nasdaq 100 futures pointed to an increase of 0.1% at the open.

U.S. building permits rise 14.3% in April; housing starts fall 16.5%

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