Canada: Housing starts to cool to a 205k pace in July - TDS

Analysts at TD and the wider market are looking for the Canadian housing starts (originally scheduled for a Tuesday release) to cool to a 205k pace in July, an 8k slowdown from the prior month.

Key Quotes

“We expect the decline to be driven by the more volatile multi-unit segment while single family housing starts should remain stable near an annualized 65k. Building permits for June will be published shortly afterwards at 8:30 ET and the market expects a 1.9% m/m pullback after an 8.9% gain in May.”