Economic data showed an increase in the number of new housing projects launched in the United States in December, surpassing expectations.
The U.S. Department of Commerce reported that residential housing starts rose by 6.2% in December, reaching a seasonally adjusted annual rate of 1.404 million units, compared to a 3.9% increase in November, when the figure stood at 1.322 million units, according to revised data.
Forecasts had indicated that housing starts would reach around 1.33 million units annually in December, according to the German News Agency (dpa).
In a related context, the Department of Commerce also noted that building permits increased by 4.3% in December, reaching an annual rate of 1.488 million units, after declining by 1.6% in November, when they recorded 1.388 million units, based on revised figures.
Building permits are considered a key indicator of future demand in the housing market, and analysts had expected permits to total approximately 1.4 million units annually during the same month.
