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Canadian housing starts drop 15% in January

BY Reuters | ECONOMIC | 08:23 AM EST

TORONTO, Feb 16 (Reuters) - Canadian housing ?starts fell more than ?expected in ?January, dropping 15% ?from the ?previous month, ?data from the ?national ?housing agency showed on ?Monday.

The ?seasonally ?adjusted annualized rate of housing starts declined ?to 238,049 ?units from a revised 280,668 ?units ?in December, the ?Canada ?Mortgage and Housing Corporation (CMHC) said. Economists had expected starts to fall ?to 257,500. (Reporting by Fergal ?Smith Editing ?by Bernadette ?Baum)

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