Homes struggle, factories thrive: How AI is reshaping the US economy
US housing starts fell sharply in July, reaching their lowest point since November 2022.
Existing home purchase contracts also declined, hitting their weakest level since January.
High borrowing costs and limited inventory continue to impact housing affordability and sales.
Meanwhile, US factory output reached its highest level in over four years.
This manufacturing growth was driven by strong investment in artificial intelligence and related industries.
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