Saturday, April 08, 2006

Canadian February Housing Starts Fall 2.9%

Canadian housing starts fell a less- than-expected 2.9 percent last month, with declines in single-and multiple-unit dwellings.

Work began on 240,900 housing units at an annual rate in February, compared with January's 248,100 units, Canada Mortgage and Housing Corp. said today in Ottawa. The February number was more than the median forecast of 229,000 in a Bloomberg News survey of 20 economists.

Starts of urban single-family houses decreased 4.6 percent to 106,900 units. Urban multiple-family units such as condominiums fell 2 percent to 101,400 units. The figures are seasonally adjusted.


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