While the Commerce Department released a report on Thursday showing that U.S. housing starts fell by much more than expected in the month of April, the report also showed a substantial increase in building permits.
The Commerce Department said housing starts tumbled 16.5 percent to a seasonally adjusted annual rate of 853,000 in April from the revised March estimate of 1.021 million.
Economists had expected housing starts to drop to an annual rate of 969,000 from the 1.036 million originally reported for the previous month.
On the other hand, the report also showed that building permits jumped 14.3 percent to an annual rate of 1.017 million in April from the revised March rate of 890,000.
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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.