Investing.com - U.S. homebuilding rose higher than expected in January, increasing optimism over the strengthening economy.
Housing starts surged 9.7% to a seasonally adjusted annual rate of 1.326 million units last month, the Commerce Department said on Friday.
Economists had forecast housing starts rising to a pace of 1.234 million units last month.
In another report, building permits rose 7.4% to a rate of 1.396 million units in January. Economists had forecast building permits decreasing to a pace of 1.290 million units last month.