US housing starts rose sharply in October

Ani Salama FXStreet

Housing starts in US rose 25.5% in October to an annual rate of 1.323 million, its highest level in 9 years, the Commerce Department said Thursday. Analysts had expected starts to reach 1.151 million.

Meanwhile, building permits, a sign of future demand, rose 0.3% in October from the prior month to a seasonally adjusted annual rate of 1.229 million, above the 1.200 million expected.

Author

Ani Salama

FXStreet

Ani Salama is an Economist specialized in financial markets and statistics analysis. In 2010, she joined FXstreet where she now contributes with the news section.

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