U.S. housing starts reverse course

07/17/2013 | Bloomberg

U.S. housing starts plunged 9.9% last month from May, marking a departure from the recent string of buoyant indicators in the key market. Building permits were down as well, but analysts remained optimistic. "I don't think this one data point is immediately concerning. The housing markets are going to be a driver of economic growth," said Guy LeBas, chief fixed-income strategist at Janney Montgomery Scott.

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