(Source: Globe and Mail)
Canada’s housing and construction industry continues to bounce back sharply.
Housing starts across the country rose more than 12 per cent in August, hitting a seasonally-adjusted annual rate of 150,400, Canada Mortgage and Housing Corp. said Wednesday. That level was up from the annual rate of 134,200 in July, the agency said.
“Housing starts are trending higher, reflecting improvements in both the single and multiple segments,” Bob Dugan, chief economist of the agency’s Market Analysis Centre, said in a statement. “The improvement in housing starts is consistent with our expectation of a stronger second half for 2009.”
Read the full article “Homebuilding continues to recover” in the Globe and Mail (September 9, 2009).