U.S. Housing Starts Fall to Three-Month Low. IMF cuts growth forecast

U.S. Housing Starts Fall to Three-Month Low – Bloomberg.

New housing starts dropped 5% in August despite record low interest rates. The decline concus with the lowering of the global growth estimate by the International Monetary Fund to 4% this year and next compared to the previous estimate of 4.3% and 4.5% in 2011 and 2012 respectively.

The U.S. growth estimate  was lowered to 1.5% from 2.5%.