Housing Starts Rebound in June but Construction Trend Still Cooling
June housing starts rose after a prior-month decline, helped by multifamily projects, but residential construction is expected to keep scaling back.
Residential construction looks set to continue scaling back, according to the economics week ahead note. In June, housing starts surprised to the upside, rebounding from the prior month's decline.
The gain largely reflected a substantial rebound in the volatile multifamily category. The broader trend in housing construction remains a focus, with the sector still showing limited momentum.
Source: FXStreet Forex News