U.S. housing starts drop; automobiles undercut factory output

U.S. homebuilding fell in March after unseasonably mild weather buoyed activity in February and manufacturing output dropped for the first time in seven months, further indications that economic growth braked sharply in the first quarter. Coming on the heels of data last week showing the second monthly decline in retail sales in March as well a decrease in consumer prices, Tuesday’s dour reports could reduce prospects of a Federal Reserve interest rate increase in June.
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Source: Reuters

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