By Dionne Searcey and Elizabeth A. Harris | The New York Times
Home construction increased sharply in July, the Commerce Department reported on Tuesday, as Home Depot, whose fate is tied closely to the housing market, announced a strong quarter.
The government said housing starts last month were up nearly 16 percent over June, and almost 22 percent over 12 months ago.
For Home Depot, the country’s largest home improvement retailer, the uptick in demand gave second-quarter earnings a lift. Big-ticket purchases, like appliances, windows and water heaters, increased. The company also reported strong growth among its high-spending professional clients — which indicates that they have work.
