Canadian December housing starts data from the CMHC
– was 184.0K, revised to 187.3K
– Rural +0.1% m/m
– Urban +11.8% m/m
– Detached homes +8.1% m/m
– Multiples +13.9% m/m
At the bottom of the hour, Canadian building permits data from Statistics Canada is due up and expected to show a 6.0% decline in November. Given the strong number here, there is some upside risk.