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WASHINGTON – The Commerce Department’s U.S. Census Bureau today released data on new residential construction for May 2011. Permits for new housing units jumped 8.7 percent in May. Private-sector analysts had expected a 0.7 percent decline. Housing starts advanced 3.5 percent in May. Private-sector analysts had expected a 4.8 percent increase. Both permits and starts in April were revised up.
“While May’s housing data exceeded expectations, we recognize the imperative for a continued and full economic recovery that includes a healthy housing sector as well as continued job growth” said Locke. “This administration is committed to pursuing policies that will do just that, helping America win the future,” he said.
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