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U.S. Housing Starts Spike More Than Expected But Building Permits Unexpectedly Slump

New residential construction in the U.S. showed a substantial increase in the month of June, according to a report released by the Commerce Department on Tuesday. The Commerce Department said housing starts spiked by 6.3 percent to an annual rate of 1.643 million in June after jumping by 2.1 percent to a revised rate of 1.546 million in May.
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