Investing.com – U.S. housing starts and building permits in June beat forecasts.
The Commerce Department said housing starts rose 4.8% to a seasonally adjusted 1.189 mn units from May.
Analysts had expected a rise of 0.5% in housing starts to 1.170 mn units.
May’s figure was revised to 1.135 mn units from an initial estimate of 1.164 mn.
Building permits were up 1.5% at 1.153 mn units vs. forecast rise of 1.150 mn.