From the FINANCIAL TIMES:
New home construction in the US collapsed in May, as building activity stalled after the government withdrew measures to prop up the housing market.
Separately on Wednesday, the labour department said that US wholesale prices fell back last month due to tumbling energy prices.
Housing starts fell by 10 per cent to an annual rate of 574,000 last month, the commerce department said on Wednesday. The figures were far worse than the 3.7 per cent decline economists predicted and showed the market’s reliance on government support…
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