Wednesday, February 18, 2009

Not Over

Housing starts plunge.

Feb. 18 (Bloomberg) -- U.S. builders broke ground in January on the fewest houses on record as a lack of credit and plunging sales exacerbated the worst real-estate slump since the Great Depression.

Housing starts plunged 17 percent last month to an annual rate of 466,000, lower than projected, according to figures from the Commerce Department today in Washington. A report from the Federal Reserve showed industrial output sank in January for the sixth time in seven months.