February Housing Starts Rise to 21-Year High

ousing starts rose 0.5% in February to a 21-year high, the Commerce Department said Wednesday.

The increase to 2.195 million units at an annual rate exceeded economists’ projection of a slowdown to 2.04 million, Bloomberg reported.

Rising construction likely means more business for flatbed trucking companies that haul building materials. Also, in the case of home construction, dry van freight can see an increase in demand for the delivery of household appliances and furniture.

New construction rose in the Midwest by 20.4%, the fastest pace since November 2003. It rose 19.1% in the Northeast, 0.7% in the West and fell 8.1% in the South.