Canadian housing starts unexpectedly increased for a second month in March, Ottawa-based Canada Mortgage & Housing Corp. said on its website today.
Housing starts were 184,028 at a seasonally adjusted annual pace during the month, up from a revised 183,207 in February, the agency said. Economists forecast a reading of 175,000 according to the median of 19 responses to a Bloomberg News survey.
Home starts have increased since January’s reading of 163,945 units, which was the lowest since 2009.
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