US housing starts rose sharply in October

Housing starts in US rose 25.5% in October to an annual rate of 1.323 million, its highest level in 9 years, the Commerce Department said Thursday. Analysts had expected starts to reach 1.151 million.     

Meanwhile, building permits, a sign of future demand, rose 0.3% in October from the prior month to a seasonally adjusted annual rate of 1.229 million, above the 1.200 million expected.