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New US home construction surges by most in 3 decades in May

Still, even with the Fed skipping a rate hike this month for the first time since early 2022, credit conditions remain in the process of tightening, and that could make it challenging for builders heavily reliant on construction and development loans to keep pace with May's rebound in the months ahead. Housing starts rose to a seasonally adjusted annual rate of 1.631 million units last month from April's downwardly revised 1.34 million, the Commerce Department said on Tuesday. "Wh...
Alicia Huey Andrea Ricci Dan Burns Conor Humphries Ben Ayers Commerce Department
Source: aol.com

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Motor vehicles, building materials lift US retail sales in May

U.S. retail sales unexpectedly rose in May as consumers stepped up purchases of motor vehicles and building materials, which could help to stave off a dreaded recession in the near term. While other data on Thursday showed first-time applications for state unemployment benefits holding steady last week at more than a 1-1/2-year high, indicating layoffs could be rising, economists continued to view the labor market as tight. Minnesota recently changed policy to make non-instructional educational
North Carolina United States New York Paul Simao Tim Quinlan Andrea Ricci
Source: aol.com

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