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Wednesday, August 19, 2015

Housing Starts Climb to Seven-Year High

Housing starts were up 0.2 percent in July, rising to a seasonally adjusted annual rate of 1.206 million units, the Commerce Department said yesterday. Starts -- up 10.1 percent from a year ago -- reached the highest level since October 2007. Permits for new construction, which are considered a gauge of future demand, fell 16.3 percent to an annual rate of 1.119 million.

--ABA Daily Newsbytes

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