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Economic data showed an unexpected decline in the number of new housing projects that began operating last month in the United States.
According to the U.S. Department of Commerce, the number of projects that began operating last month fell by 5.2% to 1.221 million units annually, after falling by 5.9% to 1.288 million units annually in August, according to the revised data.
The decline came as a surprise to analysts who expected the number to rise by 2.4 percent to the equivalent of 1.305 million units per year, compared to 1.272 million units per year during the previous month, according to preliminary data.
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