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Nationwide housing starts dropped 17% to a seasonally adjusted annual rate of 897,000 units in February, according to newly released data from the U.S. Commerce Department.
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UPDATED -- Industrial production in the U.S. increased 0.1% in February from the month before, but is 3.5% higher than the same time a year ago.
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Prices at the wholesale level fell again in February, down 0.5% from the month before, the fourth straight month this has happened, and is the largest drop since 2009.
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Retail sales in the U.S. fell for the third straight month in February as harsh weather in much of the country kept consumers and their wallets at home.
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The amount of freight moved by the nation’s for-hire transportation industry fell slightly in January from the month before, but remains close to its record high level.
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North American shipment volume jumped up in February, while total freight expenditures reversed a four-month slump, according to the latest Cass Freight Index.
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Some economic indicators have not bounced back as well as others in the recovery from the Great Recession, but trucking is doing well, and a capacity crunch leads economic expert John Larkin to project truckload rates will rise this year.
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Class 8, the largest single segment, last year accounted for 271,000 units. 2010 was even stronger, with 320,000 Class 8 transactions.
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Both the unemployment rate and the number of people without jobs fell in February, according to Labor Department figures released Friday.
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Employment in the private sector increased again in February, but it was the weakest gain in six months.
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