Canadian housing starts fall 16% in August -CMHC

TORONTO (Reuters) -Canadian housing starts fell 16% in August compared with the previous month, a steeper decline than expected, data from the national housing agency showed on Tuesday.

The seasonally adjusted annualized rate of housing starts was 245,791 units, down from a revised 293,537 units in July, the Canadian Mortgage and Housing Corporation (CMHC) said. Economists had expected starts to fall to 277,500 units.

(Reporting by Fergal Smith; Editing by Kirsten Donovan)

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