Housing starts and permits rose much more than expected in July, while consumer prices remained tame last month.
Housing starts soar to 2014 peak
Starts rose 15.7% in July to 1.093 million, the highest level since December's 6-1/2-year peak and far better than the 963,000 expected. Permits were also up sharply, to 1.052 million. The closely watched single-family home gauge rose 8.3% to 656,000, reversing a 2-month decline.