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US housing starts rising in January; single-family starts jump 3.7%

Housing starts jumped 9.7% to a seasonally adjusted annual rate of 1.326 million units, the Commerce Department said

Reuters  |  Washington 

  US homebuilding increased to more than a one-year high in January, boosted by a rebound in the construction of single-family housing units, and further gains are likely with building permits soaring to their highest level since 2007. Other data on Friday showed a surge in import prices last month amid solid increases in the costs of petroleum and a range of other goods, bolstering expectations that inflation will accelerate this year. Housing starts jumped 9.7 percent to a seasonally adjusted annual rate of 1.326 million units, the Commerce Department said. That was the ...

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First Published: Fri, February 16 2018. 22:10 IST
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