WASHINGTON — Groundbreaking for new U.S. home construction was up 1.5% in August to 598,000, as private housing permits increased 2.7% to 579,000, according to Commerce Department data released yesterday.

The 598,000 figure for private housing starts followed an upwardly revised 589,000 figure the previous month, initially reported as 581,000. But it was lower than the 600,000 level predicted by a median estimate of economists polled by Thomson Reuters.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.