January 21, 2007
US Housing Increasing
US Housing Increasing
US housing starts showed a surprise increase of 4.5 percent in December, according to new government figures.
The Commerce Department reported that the number of housing starts spiked to a seasonally adjusted rate of 1.642 million units.
Most economists had forecast that starts would fall to around 1.570 million units.
Starts from November were revised lower to 1.572 million units, compared with an initial estimate of 1.588 million units, but remained higher from October's clip.
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