Investing.com - Canadian housing starts rose more-than-expected in September, 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 193,600 units in September from 184,000 units in August, whose figure was revised up from a previously reported 180,300 units.
Analysts had expected Canadian housing starts to increase to 185,000 units last month.
Commenting on the report, Deputy Chief Economist at CMHC, Mathieu Laberge, said, “The trend in total housing starts edged up slightly in September, while remaining close to the range of roughly 182,000 to 188,000 units that was observed between March and August of 2013.”
Following the release of the data, the Canadian dollar was little changed against its U.S. counterpart, with USD/CAD dipping 0.01% to trade at 1.0311.
In a report, the Canada Mortgage and Housing Corporation said that the seasonally adjusted annual rate of housing starts rose to 193,600 units in September from 184,000 units in August, whose figure was revised up from a previously reported 180,300 units.
Analysts had expected Canadian housing starts to increase to 185,000 units last month.
Commenting on the report, Deputy Chief Economist at CMHC, Mathieu Laberge, said, “The trend in total housing starts edged up slightly in September, while remaining close to the range of roughly 182,000 to 188,000 units that was observed between March and August of 2013.”
Following the release of the data, the Canadian dollar was little changed against its U.S. counterpart, with USD/CAD dipping 0.01% to trade at 1.0311.