P.M. BRIEFING : Housing Construction Drops 11.4%
<i> From Times wire services</i>
WASHINGTON —
Housing construction plunged 11.4% in February as activity fell back after a mild-weather surge during the previous month, the government said today.
The Commerce Department said new homes and apartments were built at a seasonally adjusted annual rate of 1.5 million units last month, down from the 1.69 million pace in January, when unusually warm weather allowed more construction work than normal.
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