After reporting a sharp pullback in new residential construction in the U.S. in the previous month, the Commerce Department released a report on Thursday showing housing starts rebounded by much more than expected in the month of February.
The report showed housing starts spiked by 6.8 percent to an annual rate of 1.769 million in February after plunging by 5.5 percent to a revised rate of 1.657 million in January.
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