Canadian housing starts pick up in Feb-CMHC

Mon Mar 10, 2014 8:24am EDT
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TORONTO, March 10 (Reuters) - Canadian housing starts rose more than expected in February, data released on Monday showed, though the modest increase was unlikely to sway the view 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 192,094 units last month from a upwardly revised 180,481 in January, topping economists' forecast for 189,500.

January's housing starts were originally reported as 180,248 units.