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Canada housing starts dip in September

Canadian housing starts fell to 188,683 units in September from 198,843 units in August, according to the Canada Mortgage and Housing Corp.

The six-month moving average of the monthly seasonally adjusted annual rates of housing starts declined to 207,768 units from 213,966 units.

"The national trend in housing starts stood at a 19-month low in September, following declines in four of the last five months," said Bob Dugan, the agency's chief economist.

"The slowdown in the pace of new residential construction activity in recent months is a result of both lower single-detached and multi-starts activity and brings new residential construction closer to its long run average from the elevated levels registered in 2017," Dugan said.