U.S. housing starts surge 18.6% in January
WASHINGTON - Construction on new homes, known as housing starts, leaped nearly 19% in January, rebounding from a big drop at the end of 2018. Housing starts rose to an annual pace of 1.23 million, according to a Commerce Department report delayed by the partial government shutdown earlier this year. Economists polled by MarketWatch had forecast a seasonally adjusted 1.21 million rate. Single-family starts increased an even faster 25% in January to a 926,000 rate, the government said Friday.
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