A report released by the Commerce Department on Thursday showed new residential construction in the U.S. tumbled by much more than expected in the month of January.The Commerce Department said housing starts dove by 4.5 percent to an annual rate of 1.309 million in January after plunging by 3.4 percent to a revised rate of 1.371 million in December.Economists had expected housing starts to slump b...
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Business News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.