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Canadian housing starts climb by 8.3% in June: CMHC - Metro US

Canadian housing starts climb by 8.3% in June: CMHC

Workers guide equipment at a condominium development in Charlottetown, Prince Edward Island

TORONTO (Reuters) – Canadian housing starts rose by more than expected in June as groundbreaking increased on multiple unit urban homes, data from the national housing agency showed on Thursday, providing another sign of economic recovery form the coronavirus crisis.

The seasonally adjusted annualized rate of housing starts rose by 8.3% to 211,681 units from a revised 195,453 units in May, the Canadian Mortgage and Housing Corporation (CMHC) said. Economists had expected starts to rise to 198,000.

(Reporting by Fergal Smith; Editing by Chizu Nomiyama)

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