U.S. housing starts rebound strongly in December

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January 19, 2017 8:37 AM EST

A skyscraper reflects clouds in the Manhattan borough of New York May 26, 2014. REUTERS/Carlo Allegri

WASHINGTON (Reuters) - U.S. homebuilding rebounded more than expected in December, suggesting that the housing market contributed to economic growth in the fourth quarter.

Housing starts jumped 11.3 percent to a seasonally adjusted annual rate of 1.23 million units last month, the Commerce Department said on Thursday. November's starts were revised up to a 1.10 million-unit rate from the previously reported 1.09 million-unit pace.

Economists polled by Reuters had forecast housing starts increasing to a 1.20 million-unit rate in December.

(Reporting By Lucia Mutikani)


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