February 10, 2020 / 2:06 PM / in 4 months

Canadian housing starts climb 8.8% in January -CMHC

TORONTO, Feb 10 (Reuters) - Canadian housing starts rose by 8.8% in January compared with the previous month as groundbreaking increased on multiple unit urban homes, data from the national housing agency showed on Monday.

The seasonally adjusted annualized rate of housing starts rose to 213,224 units from a revised 195,892 units in December, the Canadian Mortgage and Housing Corporation (CMHC) said. Economists had expected starts to rise to 205,000. (Reporting by Fergal Smith Editing by Chizu Nomiyama)

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