U.S. housing starts, permits begin recovery

WASHINGTON ― U.S. housing starts and building permits rose in July, but remained sluggish. Housing starts edged up 0.9% after a nine-month low in June, for a seasonally adjusted annual rate of 1.168 million units. Activity increased in the Midwest and South, but fell in the Northeast and reached its lowest pace in more than 18 months in the West. The value of building permits rose 1.5% to a rate of 1.311 million units, putting an end to three months of declines.