Ekonomické zprávy

Canada’s housing starts decline more than forecast in March

The data, released by the Canada Mortgage and Housing Corp. (CMHC) on Wednesday, revealed that the seasonally adjusted annual rate of housing starts came in at 213,865 units in March, down 11.2 percent from a downwardly revised 240,927 units (from 243,959 units) in February. 

Economists had forecast an annual pace of 237,800 for March.

According to the report, urban starts plunged 12.4 percent m-o-m last month to 192,545 units, reflecting a 16.4 percent m-o-m tumble in single-detached urban starts to 40,776 and an 11.3 percent m-o-m decline in multiple urban starts to 151,769 units Meanwhile, rural starts were calculated at a seasonally adjusted annual rate of 21,320 units, up 0.8 percent m-o-m.

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