March 9, 2020 / 12:41 PM / a month ago

Canadian housing starts fall less than expected in February

FILE PHOTO: Workers guide equipment at a condominium development in Charlottetown, Prince Edward Island, Canada February 21, 2019. REUTERS/John Morris

TORONTO (Reuters) - Canadian housing starts fell 1.9% in February compared with the previous month as groundbreaking decreased on multiple unit urban homes, data from the national housing agency showed on Monday.

The seasonally adjusted annualized rate of housing starts fell to 210,069 units from a revised 214,031 units in January, the Canadian Mortgage and Housing Corporation (CMHC) said. Economists had expected starts to fall to 205,000.

Reporting by Fergal Smith; Editing by Alex Richardson

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