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Canadian housing starts jump 16% in July, CMHC says

Kitco Media
By Reuters
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Updated:
Reuters
Canadian housing starts jump 16% in July, CMHC says teaser image

TORONTO, Aug 16 (Reuters) - Canadian housing starts climbed 16% in July compared with the previous month as groundbreaking increased on multiple unit and single-family detached urban homes, data from the national housing agency showed on Friday.

The seasonally adjusted annualized rate of housing starts increased to 279,509 units from a revised 241,643 units in June, the Canadian Mortgage and Housing Corporation (CMHC) said. Economists had expected starts to rise to 245,000.

Reporting by Fergal Smith Editing by Christina Fincher

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