The Telegram (St. John's)

Canadian housing starts climb by 8.3% in June: CMHC

- REUTERS

TORONTO — 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 per cent 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.

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