March 19 (Bloomberg) -- New U.S. home construction rose in February and building permits climbed to the highest level in almost five years.
Builders broke ground on 917,000 homes at an annual rate, up 0.8 percent from a revised 910,000 pace in January that was higher than initially estimated, Commerce Department figures showed. Building permits, a proxy for future construction, advanced 4.6 percent to 946,000. Michael McKee and Betty Liu report on Bloomberg Television's "In the Loop." (Source: Bloomberg)