US housing starts fall, while building permits near a 13-year high

U.S. homebuilding fell less than expected in January while permits surged to a near 13-year high, pointing to sustained housing market strength amid lower mortgage rates.

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Consumer spending rose modestly in January as clothing store sales fell by the most since 2009

Sales at clothing stores declined by the most since 2009 in January, which could raise concerns about the economy's ability to continue expanding at a moderate pace.

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