From the FINANCIAL TIMES:
New home construction rose to the highest level in more than a year in March, offering hope that the US housing market is finding its footing.
Housing starts increased by 1.6 per cent last month to an annual rate of 626,000 – better than Wall Street analysts had predicted – commerce department figures showed on Friday. New residential construction has surged by 20.2 per cent from the same month a year ago…
“The surge in single-family permits that is the main leading indicator within the report, should be regarded as a very positive sign that the recovery is gaining some momentum even within the weakest sector of the economy,” said Alan Ruskin, a strategist at RBS Securities…
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