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US housing starts hit 8-month low
US housing starts hit their lowest level in eight months in June providing fresh evidence of a double-dip in the American property market, data showed yesterday. The Commerce Department said that housing starts fell by five per cent to a seasonally-adjusted annual rate of 549,000 units, the lowest level since October. But building permits figures offered a glimmer of hope, unexpectedly rising 2.1 per cent last month to an annual pace of 586,000.