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US housing starts down 3.9pc in May, BUSINESS TIMES
Business Times (Malaysia), June, 2000
Business Times (Malaysia) 06-19-2000 THE US Commerce Department reported that housing starts fell more sharply than expected by 3.9 per cent in May to 1.592 million units as compared to 1.656 million units in April. Earlier on, a report showing demand for high technology products helped power US industrial output higher for the 17th straight month in May, caused consternation in financial markets fearing the US economy may not be slowing enough to head off further interest rate rises by the Federal Reserve Board (Fed).
May's housing starts report should soothe frayed nerves as it provided further proof that costlier credit may be putting the brakes on the US economy. Fed policy makers meet again on June 17-28 amidst indications that consumer...
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