June 19 (Bloomberg) -- Builders in the U.S. broke ground on fewer homes than forecast in May as a slump in the construction of apartments swamped a pickup in single-family houses.
Starts dropped 4.8 percent to a 708,000 annual pace from a revised 744,000 rate in the prior month that was the highest since October 2008, the Commerce Department reported today in
Washington. Betty Liu, Dominic Chu and Sara Eisen report on Bloomberg Television's "In the Loop." (Source: Bloomberg)