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HOUSING STARTS SURGE

Sam RoMay 16, 2014, 18:00 IST

Reuters/Mike Blake

The pace of U.S. housing starts surged 13.2% to 1,072,000 in April from 947,000 in March.

This was much stronger than the 980,000 pace expected.

Building permits jumped 8.0% to 1,080,000, which was also stronger than expected.

More to come...