Demand for rental properties led a rebound in US home construction last month, suggesting the sector is turning round, writes Shannon Bond in New York.
Separately, US industrial production has risen the most for a month in more than a year, boosted by demand in April for cars and utility output.
Housing starts rose 2.6 per cent in April to a seasonally adjusted annual rate of 717,000, while March’s figures were revised higher to 699,000, the commerce department said.
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