Housing Starts See Surprising Gain in November

With all sorts of dour predictions for the North American economy and how it will behave in 2019, there are pleasant surprises dropped into the mix,

Canada Mortgage and Housing Corporation (CMHC) provided one early Monday, with word that Canadian housing starts surprisingly rose in November as groundbreaking on multiple unit urban homes increased 3.9%, offsetting a drop in single-detached urban starts, data from the national housing agency showed on Monday.

CMHC said the seasonally adjusted annualized rate of housing starts increased to 215,941 units from a revised 206,753 units in October. Economists had expected starts to fall to 198,000.