Canadian housing starts unexpectedly rise in June

Wed Jul 9, 2014 8:27am EDT
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TORONTO, July 9 (Reuters) - Canadian housing starts rose in June, frustrating economists' expectations for a modest slowdown, though the previous month was revised lower, data released on Wednesday showed.

A report from the Canada Mortgage and Housing Corp showed the seasonally adjusted annualized rate of housing starts rose to 198,185 last month from a downwardly revised 196,993 units in May.

That surpassed analysts' forecasts for 189,000. May was originally reported as 198,324. (Reporting by Leah Schnurr Editing by W Simon)