RTTNews - The U.S. Commerce Department revealed that housing starts rose 3.6 percent to an annual rate of 582,000 units in June from a revised pace of 562,000 units in the previous month.

Economists were expecting the figure to remain relatively stable with the pace of 532,000 units that was originally reported for May

The report also showed that building permits, an indicator of future housing demand, climbed 8.7 percent to an annual pace of 563,000 from the revised May rate of 518,000.

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