There are signs confidence may be returning to the building sector |
The construction of new homes in the US rose 3.6% between May and June to the highest level in seven months, official figures have shown.
This is the second month in a row that housing starts have risen following a post-war low in April.
Compared with the same month a year ago, however, June starts were down 46%, the Commerce Department said.
The number of single family homes being built jumped 14.4% in June, the biggest jump in over four years.
'Genuine surprise'
The number of new homes built totalled 582,000, many more than analysts had expected.
Figures for May were also revised upwards, from 532,000 to 562,000.
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