Canada Housing Starts Hit Highest Level in Seven Months

Canada’s housing starts jumped to the highest level in seven months, as the country’s two largest provinces ramped up construction on apartments, townhouses and condominiums.

Builders started work on an annualized 264,506 units in May, according to data released Monday by the Canada Mortgage and Housing Corp. That’s an increase of 9.7% from a month earlier, more than economists had expected in a Bloomberg survey.