Fresh signs that the economy is stabilizing – though at very low levels – emerged Tuesday in reports that home construction rose more than expected last month and wholesale prices remain in check.
The building of new homes and apartments jumped 17.2 percent to a seasonally adjusted annual rate of 532,000 units from April’s record low of 454,000 units, the Commerce Department said. Building permits, an indicator of future activity, rose 4 percent to an annual rate of 518,000 units, also better than expected.
The Associated Press
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