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Canadian housing starts climb 15.8% in July: CMHC

OTTAWA (Reuters) - Canadian housing starts rose in July as groundbreaking increased on multiple-unit and single-family urban homes, data from the national housing agency showed on Tuesday, as the market continued to bounce back from the COVID-19 crisis.

The seasonally adjusted, annualized rate of housing starts rose to 245,604 units from a revised 212,095 units in June, the Canadian Mortgage and Housing Corporation (CMHC) said. Economists had expected starts to dip to 210,000.

Reporting by Julie Gordon in Ottawa and Fergal Smith in Toronto; Editing by Kevin Liffey

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