off-the-wire

Canadian housing starts rise 8% in October

Kitco Media
By Reuters
Published:
Updated:
Reuters
Canadian housing starts rise 8% in October teaser image

OTTAWA, Nov 18 (Reuters) - Canadian housing starts in October rose by 8% versus the previous month as groundbreaking increased on multi-unit and single-family detached homes, data from the national housing agency showed on Monday.

The seasonally adjusted annualized rate of housing starts rose to 240,761 units from a marginally revised 223,391 in September, the Canadian Mortgage and Housing Corporation said.

Economists expected the number to rise to 240,000 units in October.

Reporting by Ismail Shakil in Ottawa; editing by Jason Neely

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