Thu. Sep 24th, 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.

Continue reading…Rolling coverage of the latest economic and financial newsLatest: UK manufacturing suffers worst quarter since 2009Introduction: markets fear cliff-edge BrexitPound has fallen back to $1.325Full story: Brexit: Boris Johnson will amend bill to outlaw extension 1.56pm GMTConstruction 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 GMTThe 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. Continue reading…