WASHINGTON—U.S. homebuilding unexpectedly fell in September and permits dropped to a one-year low amid acute shortages of raw materials and labor, strengthening expectations that economic growth slowed sharply in the third quarter.
The report from the Commerce Department on Tuesday also showed housing completions hitting a 13-month low. It followed on the heels of news on Monday that production at U.S. factories fell by the most in seven months in September. Strong demand as global economies emerge from the COVID-19 pandemic is running against worker shortages, straining supply chains.
