Canadian housing starts unexpectedly rise in June

TORONTO, July 9 Wed Jul 9, 2014 8:27am EDT

TORONTO, July 9 (Reuters) - Canadian housing starts rose in June, frustrating economists' expectations for a modest slowdown, though the previous month was revised lower, data released on Wednesday showed.

A report from the Canada Mortgage and Housing Corp showed the seasonally adjusted annualized rate of housing starts rose to 198,185 last month from a downwardly revised 196,993 units in May.

That surpassed analysts' forecasts for 189,000. May was originally reported as 198,324. (Reporting by Leah Schnurr Editing by W Simon)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.