Housing starts rise again in US

US HOME construction scaled a five-month high in September, another sign the housing market decline is bottoming, though permits for future building fell.

While the data was encouraging, housing starts remained at depressed levels and added to the case for more monetary stimulus to shore up the sluggish recovery.

Housing starts advanced for a third straight month, gaining 0.3 per cent to a seasonally adjusted annual rate of 610,000 units in September. August starts were revised up to a 608,000-unit pace from 598,000 units.