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Industrials Up On Global Growth Outlook -- Industrials Roundup

10/19/2021 | 04:43pm EST

Shares of industrial and transportation companies rose as traders bet global economic growth will survive scares about inflation and supply chains.

Xiaomi Chief Executive Lei Jun said Tuesday that the company plans to mass produce its own cars in the first half of 2024.

In one sign that labor and materials shortages are taking their toll on construction activity, the Census Bureau reported that U.S. home builders started construction on homes at a seasonally-adjusted annual rate of 1.56 million in September, a 1.6% decrease from the previous month.

Online property concern Zillow recently ceased purchasing homes, partly because of difficulties finding labor to revamp them.

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

10-19-21 1642ET

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