• From The BBC:

    Construction of new US homes posted a surprise fall in July, ending three straight months of increases, Commerce Department figures have shown.Suggesting the housing market recovery remains weak, the number of new properties built last month fell 1% to an annual rate of 581,000 properties. Separate official figures showed that US wholesale prices recorded an unexpectedly large fall last month. Prices declined 0.9% from June, and by 6.8% when compared with July last year. The big fall from a year earlier was the largest in more than six decades of record keeping by the Labor Department, but came as oil prices fell from an all-time high of £147 a barrel last July to the current levels between $65 and $70.
    Core wholesale prices – which pull out the volatile cost of energy and food – were down 0.1% in July from June. The fall in the construction of new home was led by apartments, which fell at an annual rate of 13%. Analysts said continuing job loss fears were putting people off buy…

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    Posted by Jon @ 3:34 pm

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