Housing Starts Rose 2.8% in January

Housing Starts Rose 2.8% in January

Construction on new housing posted better-than-expected results, for an increase of 2.8% in the month of January. This is the highest level of activity for housing starts in six months. This positive report is thought to have been influenced by the first-time home buyer tax credit and the low mortgage rates. It is also a sign that the housing market may be stabilizing, and recovering slowly but surely.

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U.S. Retail Sales Report Rose More than Expected

U.S. Retail Sales Report Rose More than Expected

The retail sales report released by the Commerce Department today showed that sales have actually increased by 0.5% in January. While this release was initially scheduled for Thursday, a snowstorm delayed the report until today – Friday. This reportis an important indicator of consumer spending, which in turn influences the rate of economic recovery.

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