The Canadian housing market continued to expand in June. According to the government-owned Canada Mortgage and Housing Corporation (CMHC), seasonally adjusted annualised housing starts increased to 197,400 units in June, up 1.7% from a revised 194,100 units in May (previously reported: 183,600 units). The reading came in well above market expectations that anticipated housing starts to shrink to 185,000 units in June and marked the fifth consecutive month of rising starts. According to CMHC, the monthly increase reflects a rise in both single as well as multiple starts. Rising housing starts bode well for economic growth in the second quarter, due to the sensitivity of housing starts to changes in the business cycle. According to new CMHC estimates, housing starts are projected to total 179,500 units in 2011 and 185,300 units in 2012.
Housing starts rise in June
July 11, 2011
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Canada Economic News
October 21, 2016
In September, seasonally-adjusted consumer prices increased 0.2% from the previous month, which contrasted the 0.1% decrease recorded in August and marked the highest print in three months.
October 19, 2016
At its 19 October policy meeting, the Bank of Canada (BoC) decided to maintain its target for the overnight rate at 0.50%, despite a weaker inflation and growth outlook.
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.