New residential construction in the U.S. saw a substantial rebound in the month of July, according to a report released by the Commerce Department on Wednesday.
The Commerce Department said housing starts surged 3.9 percent to an annual rate of 1.452 million in July after plunging by 11.7 percent to a revised rate of 1.398 million in June.
Economists had expected housing starts to increase to a rate of 1.448 million from the 1.434 million originally reported for the previous month.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.