by ForexNewsNow Team on June 8th, 2010

Canada housing starts slide, confounding forecasts

NEW YORK (Forex News Now) – The number of Canadian housing starts slid in May, confounding upbeat forecasts, industry data showed on Tuesday in one of the day’s spotlight FX news events.

According to the Canada Mortgage and Housing Corp., there were 189,000 Canadian housing starts in May, at a seasonally adjusted annual pace, down from a revised 201,800 in April.

Analysts had expected growth April’s figure to come in at 203,000, two major forex news outlets reported.

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