Investing.com – Canadian housing starts fell more-than-expected in December, industry data showed on Tuesday.
In a report, the Canada Mortgage and Housing Corporation said that the seasonally adjusted annual rate of housing starts fell to 172K units in December, compared to 198K units in November, whose figure was revised up from 187K.
Economists had expected housing starts to decline to 178K in December.
Commenting on the report, chief economist at CMHC’s Market Analysis Centre Bob Dugan said, “Housing starts moved lower in December due to the multiple starts segment, especially in Ontario”.
Following the release of the data, the Canadian dollar was up against its U.S. counterpart, with USD/CAD shedding 0.14% to hit 0.9920.
In a report, the Canada Mortgage and Housing Corporation said that the seasonally adjusted annual rate of housing starts fell to 172K units in December, compared to 198K units in November, whose figure was revised up from 187K.
Economists had expected housing starts to decline to 178K in December.
Commenting on the report, chief economist at CMHC’s Market Analysis Centre Bob Dugan said, “Housing starts moved lower in December due to the multiple starts segment, especially in Ontario”.
Following the release of the data, the Canadian dollar was up against its U.S. counterpart, with USD/CAD shedding 0.14% to hit 0.9920.