Month of March Met Significant Declines in New Construction

According to a report by MSNBC, new home building projects started during the month of March declined by 11.9%, a rate that was lower than expected. Furthermore, building permit activity, which often denotes construction plans to take shape in the future, also fell by 5.8%. This report has been met with disappointment by government officials, and the declines were greater that those originally forecasted by economists.

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