Housing Starts Rebound Strongly in December

Economic Indicators Reuters

(Reuters)

U.S. homebuilding rebounded more than expected in December, suggesting that the housing market contributed to economic growth in the fourth quarter.

Continue Reading Below

Housing starts jumped 11.3 percent to a seasonally adjusted annual rate of 1.23 million units last month, the Commerce Department said on Thursday. November's starts were revised up to a 1.10 million-unit rate from the previously reported 1.09 million-unit pace.

Economists polled by Reuters had forecast housing starts increasing to a 1.20 million-unit rate in December.

(Reporting By Lucia Mutikani)