After reporting a substantial increase in new residential construction in the previous month, the Commerce Department released a report on Wednesday showing a bigger than expected pullback in U.S. housing starts in the month of September.
The Commerce Department said housing starts tumbled by 5.3 percent to an annual rate of 1.201 million in September after surging up by 7.1 percent to a revised rate of 1.268 million in August.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.