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China Daily | Updated: 2009-03-18 07:52
US housing stats rise
The number of new housing projects that builders broke ground on in February rose sharply, defying economists' forecasts for yet another drop in activity.
The US Commerce Department reported yesterday that construction of new homes and apartments jumped 22.2 percent from January to a seasonally adjusted annual rate of 583,000 units. Economists were expecting construction to drop to a pace of around 450,000 units.
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