20 Jan 2011

US homebuilding down

10:02 am on 20 January 2011

The number of new homes being built in the United States has fallen faster than expected.

Building work on new properties dropped to an annual rate of 529,000, according to figures for December from the Department of Commerce. That was down from November's annual rate of 553,000.

The BBC reports December marked the second lowest rate since records began in 1959.

The US economy grew 2.6% in the third quarter, but unemployment remains high.