A report released by the Commerce Department on Wednesday showed a sharp increase in new residential construction in the U.S. in the month of December.
The Commerce Department said housing starts spiked by 6.2 percent to an annual rate of 1.404 million in December after jumping by 3.9 percent to an annual rate of 1.322 million in November. Economists had expected housing starts to come in at an annual rate of 1.33 million.
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Business News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.