Canadian housing starts fall 6% in May

Canadian housing starts ​fell 6% in ‌May from the previous month, ​which was ​a smaller decline than ⁠expected, data ​from the national ​housing agency showed on Monday.

The seasonally adjusted ​annualized rate ​of housing starts decreased ‌to ⁠261,377 units from a revised 278,380 units ​in ​April, ⁠the Canada Mortgage and ​Housing annualised Corporation (CMHC) ​said. ⁠

Economists had expected starts to ⁠fall ​to 255,000.

-Reuters