Economic progress, at least on the housing front, appears to have taken a step back last month.
Canada Mortgage and Housing Corp. says the pace of housing starts slowed in January compared with the previous month.
The agency estimates there were 11,737 actual starts in January, a figure that is extrapolated out to a seasonally-adjusted annual rate of 180,248, down from 187,144 in December.
Urban starts decreased by 2.7% in January to 163,158 units on an adjusted annual basis.
Multiple urban starts were down 6.0% to 102,289 units on the same basis.
Single-detached urban starts segment increased by 3.4% to 60,869 units on the same seasonally-adjusted basis.
Urban starts in January increased in the Prairies and in Ontario and fell in Atlantic Canada, Quebec and British Columbia.
