While the Commerce Department released a report on Tuesday showing a much sharper than expected pullback in U.S. housing starts in the month of August, the report also showed a much bigger than expected surge in U.S. building permits.
The report said housing starts plunged by 11.3 percent to an annual rate of 1.283 million in August after jumping by 2.0 percent to a revised rate of 1.447 million in July.
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