US housing starts exceed forecasts in July

By Gokhan Ergocun

ISTANBUL (AA) - The number of new housing starts in the US rose 5.2% on a monthly basis in July to 1.43 million, the US Census Bureau said.

The market expectation was at 1.29 million for the month of July.

On a yearly basis, the number of new housing starts also rose 12.9% in July.

The number of building permits issued in the country fell 2.8% month-on-month to 1.35 million in July, while the expectation was for 1.39 million.

The number of building permits fell 5.7% on an annual basis last month.