Rate of new home construction in US rises

July 20th, 2011 - 12:35 pm ICT by IANS  

Washington, July 20 (IANS/EFE) The rate of new home construction in the US exceeded analysts’ expectations and rose in June by 14.6 percent to an annualised rate of 629,000 units, the Commerce Department reported Tuesday.

The figure exceeded the calculations of most analysts, which was for the annualised rate to come in at 580,000 units.

The June rate was the highest monthly housing starts figure since January.

Building permits, which serve as an indicator of future activity, increased last month by 2.5 percent to an annualised rate of 624,000, the highest since last December.

–IANS/EFE
rd

Related Stories

Tags: , , ,

Posted in Business |

Subscribe