off-the-wire

Canadian housing starts rise 14% in Feb, CMHC says

Kitco Media
By Reuters
Published:
Updated:
Reuters
Canadian housing starts rise 14% in Feb, CMHC says teaser image

OTTAWA, March 15 (Reuters) - Canadian housing starts increased by 14% in February from the previous month as groundbreaking increased on multiple-unit urban homes, Canadian Mortgage and Housing Corporation (CMHC) data showed on Friday.

The seasonally adjusted annualized rate of housing starts rose to 253,468 units from a revised 223,176 units in January, the CMHC said.

That was higher than the 230,000 expected by economists.

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Reporting by Ismail Shakil in Ottawa; editing by Jason Neely

 

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