New residential construction in the U.S. rebounded by more than expected in the month of June, according to a report released by the Commerce Department on Friday.
The Commerce Department said housing starts surged by 4.6 percent to an annual rate of 1.321 million in June after plunging by 9.7 percent to a revised rate of 1.263 million in May.
Economists had expected housing starts to jump by 3.5 percent to an annual rate of 1.300 million from the 1.256 million originally reported for the previous month.
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Forex News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.