Housing Starts Fall in October, Commerce Says

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.S. new housing starts fell 5.6% in October, the Commerce Department said Thursday.

The drop to a 2.014 million unit annual rate, down from a 2.134 rate in September, was less than the 2.07 million rate economists had forecast, Bloomberg reported.

uilding permits, an indicator of future construction, fell to a 2.071 million annual rate, a 6.7% decline that was the biggest in six years.

ncreased construction can mean more business for flatbed trucking companies that haul building materials. Also, in the case of home construction, dry van freight can see an increase in demand for the delivery of household appliances and furniture.

Housing starts fell in all four regions, Commerce said.