Rise in US home building a positive sign

Rise in US home building a positive sign

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US home building rose in June for the third straight month, data from the US Census Bureau has revealed.

Housing starts rose 3.6 per cent in June to an annualised rate of 582,000 units, but still well below the 1.1 million of a year ago.

Federal Reserve officials are confident the economy is about to improve despite surging unemployment levels.

Michigan recorded the highest level of unemployment at 15.2 per cent, well above the national rate of 9.5 per cent.

US home building rose in June for the third straight month, data from the US Census Bureau has revealed.

Housing starts rose 3.6 per cent in June to an annualised rate of 582,000 units, but still well below the 1.1 million of a year ago.

Federal Reserve officials are confident the economy is about to improve despite surging unemployment levels.

Michigan recorded the highest level of unemployment at 15.2 per cent, well above the national rate of 9.5 per cent.

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