June 10, 2019 / 12:28 PM / 5 months ago

Canadian housing starts drop by 13.3% in May -CMHC

TORONTO, June 10 (Reuters) - Canadian housing starts fell in May compared with the previous month as groundbreaking tumbled by 18.5% on multiple unit urban homes, data from the national housing agency showed on Monday.

The seasonally adjusted annualized rate of housing starts fell to 202,337 units in May from a revised 233,410 units in April, the Canadian Mortgage and Housing Corporation (CMHC) said. Economists had expected starts to fall to 205,000. (Reporting by Fergal Smith)

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