June 8, 2017 / 12:29 PM / a year ago

Canada housing starts slip more than expected in May

Construction workers build homes on a lot in Vaughan, a suburb with an active real estate market, in Toronto, Canada, May 24, 2017. REUTERS/Mark Blinch

OTTAWA (Reuters) - Canadian housing starts dipped in May as construction intentions fell in the major cities of Toronto and Vancouver, data from the Canada Mortgage and Housing Corporation showed on Thursday.

The seasonally adjusted annual rate of starts declined to 194,663 in May from April’s upwardly revised 213,498. May’s figure was a bigger decline than economists’ expectations for a decrease to 205,000.

Reporting by Leah Schnurr

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