U.S. February Housing Starts Drop 22.5%, PPI Climbs 1.6%

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March 16 (Bloomberg) -- Housing starts in the U.S. declined more than forecast in February, marking the slowest pace since April 2009. New home construction fell 22.5 percent to a 479,000 annual rate, according to Commerce Department figures released today in Washington. Building permits, a proxy for future construction, fell 8.2 percent to a 517,000 annual pace. The producer-price index climbed 1.6 percent last month, the most since June 2009, Labor Department figures showed. Mike McKee reports with Betty Liu on Bloomberg Television's "In the Loop." (Source: Bloomberg)

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