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Canadian housing starts surprise economists, rise 1.9% in August

Credit: REUTERS/CARLO ALLEGRI

Canadian housing starts unexpectedly rose in August compared with the previous month as groundbreaking increased on single detached urban homes, data from the national housing agency showed on Tuesday.

TORONTO, Sept 10 (Reuters) - Canadian housing starts unexpectedly rose in August compared with the previous month as groundbreaking increased on single detached urban homes, data from the national housing agency showed on Tuesday.

The seasonally adjusted annualized rate of housing starts rose to 226,639 units from a revised 222,467 in July, the Canadian Mortgage and Housing Corporation (CMHC) said. Economists had expected starts to fall to 215,000 units.

(Reporting by Fergal Smith Editing by Peter Graff)

((fergal.smith@thomsonreuters.com; +1 416 941 8113))

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