CMHC says annual pace of housing starts in May up 10% from April

OTTAWA — Canada Mortgage and Housing Corp. says the annual pace of housing starts in May climbed 10 per cent compared with April, helped by gains in Montreal and Toronto.

CMHC says the overall annual pace of urban housing starts was 246,111 units in Canada, up 11 per cent from 221,376 in April. The annual pace of multi-unit urban starts increased 13 per cent to 203,141, while single-detached urban starts rose two per cent to 42,970.The six-month moving average of the monthly seasonally adjusted annual rate was up 3.8 per cent at 247,830 units in May compared with 238,859 units in April.

-- China’s central bank left a key interest rate steady for the tenth straight month, displaying caution on monetary easing given abundant liquidity and the pressure to prevent the yuan from weakening further.

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