The Canadian housing market experienced a healthy expansion in May after shrinking in April. According to the government-owned Canada Mortgage and Housing Corporation (CMHC), seasonally adjusted annualised housing starts increased to 183,600 units in May, up 2.7% from a revised 178,700 units in April (previously reported: 179,000 units). The reading came in below market expectations that anticipated housing starts to increase 185,000 units in May. According to CMHC, a moderate increase in housing starts in May mainly reflected a rise in rural starts as well as in multiple constructions. Nevertheless, the modest May increase does not point to a reversal in the downward trend in housing starts, which have gradually declined since April 2010 when starts were seen at 205,600 units. Due to the sensitivity of housing starts to changes in the business cycle, increasing starts bode well for solid economic growth in the months ahead. The CMHC estimates housing starts will total 177,600 units in 2011 and 183,800 units in 2012.
Housing starts rebound in May
June 8, 2011
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Canada Economic News
October 11, 2016
The Teranet-National Bank National Composite House Price index rose 0.7% in September from the previous month, which followed the 1.5% increase in August.
October 8, 2016
Seasonally-adjusted annualized housing starts registered 220,600 units in September, according to the government-owned Canada Mortgage and Housing Corporation (CMHC).
October 7, 2016
The Ivey Purchasing Managers’ Index (PMI), sponsored by the Richard Ivey School of Business and the Purchasing Management Association of Canada, increased a seasonally-adjusted 6.1 points in September, rising from 52.3 in August to 58.4.
September 30, 2016
In July, GDP grew a strong 0.5% over the previous month in seasonally-adjusted terms.
September 23, 2016
In August, seasonally-adjusted consumer prices recorded a 0.1% decrease over the previous month, which was down from the flat figure recorded in July and marked the lowest reading in six months.