Canadian housing starts rise 1.1% in July -CMHC

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TORONTO – Canadian housing starts surprisingly rose in July compared with the previous month, data from the national housing agency showed on Tuesday.

The seasonally adjusted annualized rate of housing starts rose 1.1% to 275,329 units from a revised 272,381 units in June, Canadian Mortgage and Housing Corporation (CMHC) data showed. Analysts had forecasts starts would dip to 262,100.

(Reporting by Fergal Smith; Editing by Peter Graff)

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