Washington: The number of new housing starts in the US rose 5.2% on a monthly basis in July to 1.43 million, the US Census Bureau said. The increase in housing starts exceeded market expectations, which were set at 1.29 million for the month of July.

According to Anadolu Agency, on a yearly basis, the number of new housing starts also rose significantly by 12.9% in July. In contrast, the number of building permits issued in the country experienced a decline, falling 2.8% month-on-month to 1.35 million in July. This figure also fell short of the market expectation of 1.39 million.

The annual comparison shows a 5.7% decrease in the number of building permits issued last month.