Investing.com - Canadian housing starts fell more-than-expected in August, official 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 180,300 units in August from 193,000 units in July, whose figure was revised up from a previously reported 192,900 units.
Analysts had expected Canadian housing starts to fall to 190,000 units last month.
Commenting on the report, Deputy Chief Economist at CMHC, Mathieu Laberge, said, “The trend in total housing starts continued to be relatively stable for a sixth consecutive month, remaining within a narrow range of roughly 182,000 to 188,000 units since March 2013.”
Following the release of the data, the Canadian dollar remained higher against its U.S. counterpart, with USD/CAD dipping 0.39% to trade at 1.0336.
In a report, the Canada Mortgage and Housing Corporation said that the seasonally adjusted annual rate of housing starts fell to 180,300 units in August from 193,000 units in July, whose figure was revised up from a previously reported 192,900 units.
Analysts had expected Canadian housing starts to fall to 190,000 units last month.
Commenting on the report, Deputy Chief Economist at CMHC, Mathieu Laberge, said, “The trend in total housing starts continued to be relatively stable for a sixth consecutive month, remaining within a narrow range of roughly 182,000 to 188,000 units since March 2013.”
Following the release of the data, the Canadian dollar remained higher against its U.S. counterpart, with USD/CAD dipping 0.39% to trade at 1.0336.