U.S. housing starts jump to near six-year high in November

U.S. housing starts surged to their highest level in nearly six years in November, a sign of strength in the housing market that could give the Federal Reserve ammunition to start cutting back its bond purchases. The Commerce Department said on Wednesday housing starts jumped 22.7 percent, the biggest jump since January 1990, to a seasonally adjusted annual rate of 1.09 million units, the highest level since February 2008. The release of housing starts data for September and October was delayed because of a 16-day shutdown of the federal government in October. The housing market had slowed in recent months, a development policymakers acknowledged at the October meeting.


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