NA­TIONAL

Richmond Times-Dispatch - - BUSINESS - — From staff and wire re­ports

U.S. builders broke ground on fewer apart­ment build­ings last month, push­ing over­all home con­struc­tion down 3.7 per­cent from March. The Com­merce Depart­ment said Wed­nes­day that hous­ing starts fell to a sea­son­ally ad­justed an­nual rate of 1.29 mil­lion in April, the low­est since De­cem­ber. Apart­ment con­struc­tion tum­bled 12.6 per­cent to 374,000. Con­struc­tion of sin­gle-fam­ily homes blipped up 0.1 per­cent to 894,000.

With shop­pers in a mood to spend, par­tic­u­larly on cloth­ing, Macy’s sur­passed profit and rev­enue ex­pec­ta­tions for the first quar­ter of the year and raised its out­look. The com­pany re­ported its sec­ond straight quar­ter of higher sales at ex­ist­ing stores af­ter a three-year funk.

Ford is re­sum­ing pro­duc­tion of its F-150 pickup fol­low­ing a fire at the Merid­ian Mag­ne­sium Prod­ucts of Amer­ica fac­tory in Michi­gan, where parts for the truck are made. The au­tomaker said work will restart Fri­day at the Dear­born Truck Plant in Michi­gan, while pro­duc­tion of Ford’s Su­per Duty at its Louisville, Ky., plant and the F-150 at its Kansas City, Mo., plant are tar­geted to re­sume by Mon­day.

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