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17 Jul 2015
US housing starts rise in June, building permits rose to eight year high
FXStreet (Mumbai) - The official data released in the US showed housing starts climbed in June to the second-highest level since November 2007.
Housing starts rose 9.8% to a 1.17 million annualized rate from an upwardly revised 1.07 million in May. Building permits for single and multifamily properties, a gauge of future construction, climbed to an almost eight-year high. Building permits increased 7.4% in June to a 1.34 million annualized rate, the highest since July 2007. They were projected to fall to 1.15 million.
As per the Bloomberg report, applications to begin work on single-family projects rose to 687,000 in June, the most since January 2008.
Housing starts rose 9.8% to a 1.17 million annualized rate from an upwardly revised 1.07 million in May. Building permits for single and multifamily properties, a gauge of future construction, climbed to an almost eight-year high. Building permits increased 7.4% in June to a 1.34 million annualized rate, the highest since July 2007. They were projected to fall to 1.15 million.
As per the Bloomberg report, applications to begin work on single-family projects rose to 687,000 in June, the most since January 2008.