New residential construction in the U.S. unexpectedly surged to their highest level in almost a year in the month of January, the Commerce Department revealed in a report released on Thursday.
The Commerce Department said housing starts spiked by 7.2 percent to an annual rate of 1.487 million in January after jumping by 4.8 percent to a revised rate of 1.387 million in December.
Economists had expected housing starts to slump by 3.9 percent to an annual rate of 1.350 million from the 1.404 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.