Brazil housing starts jump 76% in November: report

Sao Paulo

BRAZIL'S housing starts rose sharply in November in a sign that homebuilders are bullish on the prospects of the country's economy emerging from its worse recession on record, a real estate research report showed on Wednesday.

The widely followed Abrainc-Fipe index showed a 76.1 per cent jump in new home construction projects started in November, compared with the same month in 2015. In October, housing starts rose almost 26 per cent against the year-earlier month.