US home construction accelerates (BBC)

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The rate of construction of new homes in the US soared by almost a quarter in February compared with the previous month, official figures have shown.

The US Commerce Department said the construction of new homes and apartments rose to an annual rate of 583,000 in the month.

In January, the annual rate to fell to 477,000 homes, the fewest in 50 years.

The jump, driven by an increase in apartments, came as a surprise to analysts, who had expected a drop.

But even with February's big jump in building activity, housing construction is still down by almost a half compared with the same month a year ago.
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more: http://news.bbc.co.uk/2/hi/business/7948376.stm