Reuters
Construction workers build a single- family home in San Diego.
U.S. home building jumped in February likely as unseasonably warm weather boosted the construction of single-family houses to near a 9-1/2-year high, suggesting the economy remained on solid ground despite an apparent slowdown in the first quarter.
Other data on Thursday showed a drop in the number of Americans filing new applications for unemployment benefits last week, pointing to a further tightening in the labor market.
The fairly upbeat data came a day after the Federal Reserve raised interest rates for the third time since the 2008 financial crisis. Fed Chair Janet Yellen told reporters that the U.S. central bank was sending a message that “we have confidence in the robustness of the economy and its resilience to shocks.”
