U.S. housing starts dipped in May, somewhat reversing a higher than initially reported April rebound, according to figures released Tuesday by the Commerce Department.
The department put the number of privately owned housing starts at a seasonally adjusted annual rate of 708,000 for May.
While the May figure is 4.8 percent below the revised April estimate of 744,000, much of that drop comes as a result of revised figures that put the April rebound in housing starts notably higher than the 717,000 rate initially reported.
The revised figures put the April housing starts at the highest rate since October 2008.
Nevertheless, most economists had hoped to see at least a small continuation of the growth in May, forecasting an annual rate of housing starts at 720,000.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.