Statement from Acting U.S. Commerce Secretary Rebecca Blank on New Residential Construction in August 2011
WASHINGTON – The Commerce Department’s U.S. Census Bureau today released data on new residential construction in August 2011. Permits for new housing units rose 3.2 percent in August to their highest level in 2011, despite private-sector expectations of a 1.8-percent decline. Housing starts, however, declined 5.0 percent in August, while private-sector analysts expected a 2.3-percent decline.