Wed. Sep 23rd, 2020

Pound tumbles amid Brexit cliff-edge fears; factory output slumps – business live

Rolling coverage of the latest economic and financial news

1.56pm GMT

Construction of new U.S. homes increased more than forecast in November and permits to build climbed to a 12-year high https://t.co/IqdHj7USnk pic.twitter.com/N0HS1tl3xM

1.46pm GMT

The US housing market is benefiting from low mortgage rates, and is propping up the wider economy. Construction of single-family houses – the largest share of the housing market – rose 2.4% to 938,000 units, the highest level since January. The number of multi-family homes started jumped 4.9% to 427,000.

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