Investing.com - The number of housing starts in the U.S. rose to the highest level since July 2008 in October, easing concerns over the U.S. housing sector, official data showed Tuesday.
In a report, the U.S. Census Bureau that U.S. housing starts rose by 3.6% in October to a seasonally adjusted 0.894 million, confounding expectations for a 3.7% decline to 0.840 million.
Housing starts for September were revised down to 0.863 million units from a previously reported 0.872 million units.
The report also showed that the number of building permits issued in October fell 2.7% to a seasonally adjusted 0.866 million, compared to expectations for a decline to 0.865 million.
Building permits issued in September totaled 0.890 million units.
Following the release of the data, the U.S. dollar was little changed against the euro, with EUR/USD adding 0.01% to trade at 1.2814.
Meanwhile, U.S. stock index futures remained lower. The Dow Jones Industrial Average futures pointed to a loss of 0.3% at the open, S&P 500 futures indicated a decline of 0.15%, while the Nasdaq 100 futures signaled a drop of 0.15%.
In a report, the U.S. Census Bureau that U.S. housing starts rose by 3.6% in October to a seasonally adjusted 0.894 million, confounding expectations for a 3.7% decline to 0.840 million.
Housing starts for September were revised down to 0.863 million units from a previously reported 0.872 million units.
The report also showed that the number of building permits issued in October fell 2.7% to a seasonally adjusted 0.866 million, compared to expectations for a decline to 0.865 million.
Building permits issued in September totaled 0.890 million units.
Following the release of the data, the U.S. dollar was little changed against the euro, with EUR/USD adding 0.01% to trade at 1.2814.
Meanwhile, U.S. stock index futures remained lower. The Dow Jones Industrial Average futures pointed to a loss of 0.3% at the open, S&P 500 futures indicated a decline of 0.15%, while the Nasdaq 100 futures signaled a drop of 0.15%.