- US housebuilding rebounds, with building permits at a 12-year high
- Goldman Sachs: Trade war drag on global economy to fade in 2020
- Pan-European share index hits four-year high
- Lloyd’s of London launches #SpeakUp campaign
The figures will help dispel any recession fears. The US housing market has perked up in recent months, after the Federal Reserve cut interest rates three times.
Fears that the US economy could slide into recession have receded in recent months as trade tensions with China have eased. There are hopes that a preliminary trade deal can be agreed soon between the world’s two biggest economies.
The latest US housing data are out, and they are strong. Housebuilding rebounded in October and the number of permits for future home construction jumped 5% to 1.46m, the highest level since May 2007.
The number of homes on which construction started rose 3.8% to 1.31m last month, according to the US Commerce Department.