Investing.com - Canadian housing starts declined more-than-expected in October, official data showed on Thursday.
In a report, the Canada Mortgage and Housing Corporation said that the seasonally adjusted annual rate of housing starts fell to 204,100 units in October from 224,000 units in September, whose figure was revised down from a previously reported 225,200 units.
Analysts had expected Canadian housing starts to dip to 212,000 units in October.
Commenting on the report, deputy chief economist at CMHC’s Market Analysis Centre Mathieu Laberge said, “The monthly decrease in total housing starts posted in October was mostly due to a decrease in both single and multiple starts in urban centers in Quebec and the Prairies.”
Following the release of the data, the Canadian dollar was little changed against its U.S. counterpart, with USD/CAD shedding 0.03% to trade at 0.9965.
In a report, the Canada Mortgage and Housing Corporation said that the seasonally adjusted annual rate of housing starts fell to 204,100 units in October from 224,000 units in September, whose figure was revised down from a previously reported 225,200 units.
Analysts had expected Canadian housing starts to dip to 212,000 units in October.
Commenting on the report, deputy chief economist at CMHC’s Market Analysis Centre Mathieu Laberge said, “The monthly decrease in total housing starts posted in October was mostly due to a decrease in both single and multiple starts in urban centers in Quebec and the Prairies.”
Following the release of the data, the Canadian dollar was little changed against its U.S. counterpart, with USD/CAD shedding 0.03% to trade at 0.9965.