“The growth that we see in our business … supports the view of the continued recovery in the U.S. housing market,” Chief Executive Craig Menear said on a conference call. Home Depot raised its profit forecast for the year ending February 2016 to between $5.24 and $5.27 per share including items, from $5.11 to $5.17. Analysts on average had expected a profit of $1.15 per share and revenue of $20.81
U.S. housing starts jumped to their highest level in nearly 7-1/2 years in April and permits soared, hopeful signs for an economy that is struggling to regain strong momentum after a dismal first quarter. The strength in housing is in stark contrast with weakness in consumption, business spending and manufacturing, which have prompted economists to lower their second-quarter growth estimates and raised doubts that the Federal Reserve will raise interest
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