Investing.com – Canadian housing starts rose more-than-expected in December, official data showed on Tuesday.
In a report, the Canada Mortgage and Housing Corporation said that the seasonally adjusted annual rate of housing starts rose to 200,000 units in December, surpassing expectations for an increase to 188,000 units.
November’s figure was revised up to 186,000 units from a previously reported 181,000.
Commenting on the report, deputy chief economist at CMHC’s Market Analysis Centre Mathieu Laberge said, “The increase posted in December was mainly attributable to the multiple urban starts, particularly in Ontario and in Atlantic Canada.”
Following the release of the data, the Canadian dollar held on to gains against its U.S. counterpart, with USD/CAD shedding 0.63% to trade at 1.0170.
In a report, the Canada Mortgage and Housing Corporation said that the seasonally adjusted annual rate of housing starts rose to 200,000 units in December, surpassing expectations for an increase to 188,000 units.
November’s figure was revised up to 186,000 units from a previously reported 181,000.
Commenting on the report, deputy chief economist at CMHC’s Market Analysis Centre Mathieu Laberge said, “The increase posted in December was mainly attributable to the multiple urban starts, particularly in Ontario and in Atlantic Canada.”
Following the release of the data, the Canadian dollar held on to gains against its U.S. counterpart, with USD/CAD shedding 0.63% to trade at 1.0170.