Housing Starts Increase 14.9%

Housing starts, pushed by a surge in apartment construction, jumped 14.9% last month, the biggest increase since May, 1983, the government reported today.

The Commerce Department said new housing was started at an annual rate of 1.83 million units in January. The increase--the biggest since a 17.7% gain 20 months ago--was led by a 76% jump in construction of apartment projects with five or more units.