The number of initiated housing constructions increased by 9.6 percent to 1.36 million in annual rate in August, the highest level since April, according to fresh figures from the US Department of Commerce.
The increase was greater than expected. Analysts had on average expected an annual rate of 1.32 million initiated housing constructions in August.
The number of building permits increased by 5 percent to 1.48 million in annual rate.
The construction trend is gaining momentum upwards at the same time as mortgage rates in the US have fallen to the lowest levels since 2022 ahead of what is expected to be a series of interest rate cuts from the US central bank Federal Reserve (Fed).
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