Housing starts dip in May but housing permits rise

June 17, 2016 1:28 PM

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Housing starts dipped in May, continuing the seesaw pattern of much of the last 12 months.

New-home construction edged down 0.3% from April to a seasonally adjusted rate of 1.16 million, the Commerce Department said Friday. That was better than 1.15 million expected by economists, according to Bloomberg.

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