USA: stronger-than-expected rebound in housing starts
According to the Commerce Department, housing starts rebounded by 10.3% last month to a seasonally adjusted annualized rate of 1,521,000, a much stronger rebound than expected.
The number of building permits issued in February rose by 1.9% to an annualized rate of 1,518,000, again exceeding financial market expectations.
Economists were expecting a rebound in both statistics in February, after the unfavorable weather in January had weighed heavily on the residential construction sector.
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