Economic Report: Housing starts skid 5.8% to 1.14 million pace in August as recovery remains fitful

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A construction worker uses a saw to cut wood as he builds framing for a new house in a development in Richmond, California.

Home builder construction stumbled in August, another sign of choppy momentum for the housing market.

Housing starts ran at a seasonally adjusted annual pace of 1.14 million, the Commerce Department said Tuesday, 5.8% below July and missing forecasts of a 1.18 million pace. That was 0.9% lower than a year ago.

Permits were flat at a 1.14 million pace in August, but were 2.3% lower than a year ago. Single-family starts slid 6% during the month to a 722,000 annual pace, which was 1.2% lower than year-ago levels.

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