Canadian housing starts climbed 9.4 per cent in November compared with October, with the seasonally adjusted annualized rate rising to 254,058 units from a revised 232,245 units the month prior, based on data released by the Canada Mortgage and Housing Corporation. This increase surpassed economists’ expectations, who had forecast starts to reach around 250,000 units.  

The rise in housing starts reflects a notable monthly gain in residential construction activity across the country. The data from the national housing agency highlights a stronger than anticipated improvement in new housing projects initiated during the month. 

Source: Reuters