U.S. Housing Starts Unexpectedly Fall 5.2% in September

U.S. housing starts unexpectedly plunged 5.2% in September to an annual rate of 1.221 million, following a revised 5.9% drop to 1.288 million in August, the Commerce Department said Monday. Economists had forecast a 2.4% increase to a 1.305 million rate. Building permits, an indicator of future housing demand, dipped 0.2% to a 1.400 million annual rate after a revised 2.1% decline to 1.403 million in August. Permits were expected to fall 0.5% to 1.387 million.