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| Version 1 | Version 2 |
|---|---|
| US home construction accelerates | US home construction accelerates |
| (20 minutes later) | |
| US house building picked up pace in April, topping market forecasts. | US house building picked up pace in April, topping market forecasts. |
| According to the Commerce Department, 1.528 million new homes were started in April, up from 1.491 million in March. | According to the Commerce Department, 1.528 million new homes were started in April, up from 1.491 million in March. |
| However, analysts warned that the outlook for the construction industry may not be rosy, underlining fears that the housing market may be softening. | However, analysts warned that the outlook for the construction industry may not be rosy, underlining fears that the housing market may be softening. |
| Building permits - a measure of future construction plans - were increasing at their slowest pace in a decade, the Commerce Department said in its report. | Building permits - a measure of future construction plans - were increasing at their slowest pace in a decade, the Commerce Department said in its report. |
| Housing construction is now 26% lower than at the same time last year. | Housing construction is now 26% lower than at the same time last year. |
| The worry is that a slump in the housing market will feed through into the wider economy, causing consumers to rein in their spending and hurting corporate profits. | The worry is that a slump in the housing market will feed through into the wider economy, causing consumers to rein in their spending and hurting corporate profits. |
| On Tuesday a survey by the National Association of Home Builders showed that a sentiment index gauging the mood of the building industry had fallen to its lowest level since September last year. | On Tuesday a survey by the National Association of Home Builders showed that a sentiment index gauging the mood of the building industry had fallen to its lowest level since September last year. |
| Industrial output | |
| Separate figures released by the US Federal Reserve showed that industrial output increased by more than expected in April compared with the previous month. | |
| April's 0.7% rise came after industrial output had dropped by 0.3% in March. | |
| Autos, computers and electronic equipment saw some of the biggest increases for the month. | |
| Meanwhile utilities saw output climb 3.5% after an unusually cold April pushed up demand for domestic heating. | |
| The US industrial sector comprises manufacturing, mining, electric and gas utilities. |