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LATEST US DATA

Housing starts rise in July to highest level in nearly eight years

Residential starts climbed 0.2 per cent from the previous month to a 1.21 million annualised rate

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Data showing builder sentiment at a decade high in August underscores the view that the housing rebound will stay on track even as the Federal Reserve is poised to boost borrowing costs.

Washington

NEW-HOME construction in the US climbed in July to the highest level in almost eight years, indicating the industry will pick up in the second half of the year.

Residential starts rose 0.2 per cent to a 1.21 million annualised rate, the most since October 2007, from a 1.