U.S. housing starts beat estimates in August

Housing starts in the U.S. rose by 3.9 percent in August to a seasonally adjusted annual rate of 1.615 million units, the U.S. Commerce Department reported. July’s pace was revised upward to 1.554 million units from the preliminary estimate of 1.534 million units. In a Reuters poll, economists forecast a rate of 1.555 million units.