Canadian housing starts pick up in April

Thu May 8, 2014 8:23am EDT
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TORONTO May 8 (Reuters) - Canadian housing starts picked up more than expected in April, according to data released on Thursday, though it was unlikely to sway expectations that the country's housing market is stabilizing.

A report from the Canada Mortgage and Housing Corp showed the seasonally adjusted annualized rate of housing starts rose to 194,809 last month from a revised 156,592 units in March. That surpassed analysts' expectations for a gain to 175,000.

March's housing starts were originally reported as 156,823. (Reporting by Leah Schnurr Editing by W Simon)