OTTAWA (Reuters) – Canadian housing starts in October rose by 8% versus the previous month as groundbreaking increased on multi-unit and single-family detached homes, data from the national housing agency showed on Monday.
The seasonally adjusted annualized rate of housing starts rose to 240,761 units from a marginally revised 223,391 in September, the Canadian Mortgage and Housing Corporation said.
Economists expected the number to rise to 240,000 units in October.
(Reporting by Ismail Shakil in Ottawa; editing by Jason Neely)
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