Canada Housing Starts Rise at Fastest Pace in 13 Months
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Canadian housing starts rose at their fastest pace in more than a year in May on a surge in condominium construction, Ottawa-based Canada Mortgage & Housing Corp. said on its website today.
Work began on 200,178 units at a seasonally adjusted annual pace in May, up 13.8 percent from April and the highest level since November. Economists forecast a reading of 179,100 according to the median of 18 responses to a Bloomberg News survey. The increase was the biggest since April 2012.