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Canadian housing starts rose 6.9% in August: CMHC

A view of a "For Lease" sign in the shop window at Confederation Court Mall in Charlottetown, Canada on September 8, 2020. REUTERS/John Morris

OTTAWA (Reuters) - Canadian housing starts rose 6.9% in August compared with the previous month as groundbreaking increased on multi-family units, data from the national housing agency showed on Wednesday.

The seasonally adjusted annualized rate of housing starts rose to 262,396 units from revised 245,425 units in July, the Canadian Mortgage and Housing Corporation (CMHC) said. Economists had expected starts to fall to 220,000.

Reporting by Julie Gordon in Ottawa; Editing by Andrew Heavens

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