U.S. Housing Starts at Four-Month High Give Boost at Quarter-End

Residential construction ended the second quarter on a stronger note as groundbreaking on new homes rebounded in June to the fastest annualized pace in four months, Commerce Department data showed Wednesday.

The pickup in construction last month reflected more starts of single-family homes as well as apartment and other multifamily dwellings. The gain in June starts ended a three-month slide that indicates residential building will do little for second-quarter economic growth.