Investing.com - Canadian housing starts rose more-than-expected in February, official data showed on Monday.
In a report, the Canada Mortgage and Housing Corporation said that the seasonally adjusted annual rate of housing starts rose to 192,100 units last month from January’s total of 180,500 units.
Analysts had expected Canadian housing starts to increase to 185,000 units in February.
Commenting on the report, Deputy Chief Economist at CMHC, Mathieu Laberge, said, “Since August 2013, the trend has essentially remained in the 185,000 to 195,000 range, with month-to-month variations generally of two per cent or less.”
Following the release of the data, the Canadian dollar was lower against its U.S. counterpart, with USD/CAD rising 0.11% to trade at 1.1099.
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