US housing starts fell 5.8% in August

Housing starts fell 5.8% in August from a month earlier to a seasonally adjusted annual pace of 1.142 million, the Commerce Department said Tuesday. The reading missed forecasts of a 1.190 million pace and was 0.9% lower than a year ago.

Meanwhile, building permits fell 0.4% in August from the prior month to a seasonally adjusted annual level of 1.139 million and were 2.3% lower than a year ago.