Housing Starts Recover in March From February Plunge

April 16, 2015 12:41 PM

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U.S. housing starts rose far less than expected in March and permits recorded their biggest drop since last May, which could raise concerns about the economy's ability to bounce back from a soft patch hit in the first quarter.

Groundbreaking increased 2.0 percent to a seasonally adjusted annual pace of 926,000 units, the Commerce Department said on Thursday. That left the bulk of February's decline, which had been blamed on bad weather, intact.

Also read: Economy: Jobless claims drop to lowest since 1973; housing starts jump 11%

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