News In Brief

Starts on new housing dipped to a two-year low last month

New home construction dipped 0.7 percent in November, putting building rates at their lowest level in almost two years, the Commerce Department reported Tuesday. It said new housing was started at a seasonally adjusted annual rate of 1,528,000 units, down slightly from a rate of 1,538,000 units in October.

Meanwhile, Americans saw their personal income rise 0.7 percent in November while they increased consumer spending by 0.9 percent, the department reported.