| Housing starts in the U.S. jumped more than 7% in January to a seasonally adjusted annual rate of 1.487 million units, following December's revised rate of 1.387 million units, the Commerce Department announced on Thursday. The data was better than expected, as economists had anticipated a drop to 1.34 million. Construction activity is up more than 9% over the last 12 months. However, the housing market could continue to struggle as permits for housing starts declined in January, pointing to slower activity in the spring. The report said that building permits dropped more than 5% in January to a rate of 1.376 million, compared to December's revised rate of 1.455 million. The building permit numbers were weaker than expected, as economists were looking for a smaller decline to 1.42 million. Powered by Commodity Insights |