Housing starts surge in OctoberResponding to a revived...

BUSINESS DIGEST

November 18, 1993

Housing starts surge in October

Responding to a revived housing market, builders broke ground on homes in October at the fastest rate in more than 3 1/2 years, causing analysts to raise projections for the economy at large.

The 2.7 percent rise in housing starts was the latest in what has become an almost unbroken streak of upbeat economic reports during the past two months. Overall, starts ran at a seasonally adjusted annual rate of 1.4 million in October, 14 percent above the year-earlier pace, the Commerce Department report showed. For single-family houses the gain was 5.8 percent, to a rate of 1.2 million.

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