A report released by the Commerce Department on Wednesday showed a sharp pullback in new residential construction in the U.S. in the month of July.The Commerce Department said housing starts plunged by 7.0 percent to an annual rate of 1.534 million in July after jumping by 3.5 percent to a revised rate of 1.650 million in June.Economists had expected housing starts to slump by 2.6 percent to a rat...
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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.