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Is Canada’s Economy Headed for a Recession? Canadian Housing Starts Cool in March

The pace of housing starts across Canada slowed down last month, in what is perhaps a preliminary indicator that the country’s economy could be headed for a slowdown.

Latest data from the Canadian Mortgage and Housing Corporation shows the seasonally adjusted rate of housing starts slumped from 250,246 units in February to 246,243 units in March, as the pace of urban starts declined 2% to 220,708 units. Multi-unit urban starts fell 5% to 154,876 units, while single-detached urban starts were down 8% to 65,832 units. Rural starts stood at a seasonally adjusted annual rate of 25,535 units last month.

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