U.S. housing starts, permits fall in April

Housing starts in April edged down by 0.2 percent, according to the U.S. Commerce Department, to an annualized rate of 1.72-million units. In a Reuters poll, economists projected a rate of 1.77-million units. March’s preliminary estimate of 1.79-million was revised downward to 1.73 million. Building permits for April fell by 3.2 percent.