The number of homes and apartments being built in the US sank in July to the lowest level in more than 17 years, government figures show.

Builders started work on 965,000 properties, on an annualised basis, from 1.08 million in June, the Commerce Department said.

However, this was not as bleak as some had been expecting.

Separately, inflationary pressures saw US wholesale prices shoot ahead by 1.2% in July - more than expected.

Core inflation, which strips out energy and food costs, climbed by 0.7% from June.

Economists had forecast that this would rise by only Tories criticise Whitehall bonuses ...
Huge US payout over anthrax case ...
US unemployment rate surges to 5.5% ... 0.2%.

(BBC)

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