BUSINESS US housing starts jump 17.3% in June: government

BUSINESS

US housing starts jump 17.3% in June: government

AFP

21:09, July 17, 2020

US home construction surged 17.3 percent in June, the Commerce Department said Friday, as the sector continued to gain ground following the disruption caused by the coronavirus pandemic.

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In this file photo taken on January 31, 2019, an aerial view of homes under construction at a housing development in Petaluma, California. US home construction surged 17.3 percent in June, the Commerce Department said on July 17, 2020. (Photo: AFP)

The rebound in housing starts compared to May, came as the Northeast -- home to the worst initial outbreak of COIVD-19 -- saw a 114.3 percent spike compared to May, with the Midwest and South also seeing growth.

But home construction initiated is down 4.0 percent from June 2019, according to the monthly data report.

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