India, April 15 -- Reflecting economic uncertainty coupled with rising building material costs and interest rates, the National Association of Home Builders released a report on Wednesday showing a notable deterioration in U.S. homebuilder confidence in the month of April.

The report said the NAHB/Wells Fargo Housing Market Index slumped to 34 in April after inching up to 38 in March. Economists had expected the index to edge down to 37.

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