Canada: Housing starts data eyed - TDS

Research Team at TDS, suggests that Canada’s housing starts for May will give us our first glimpse at how the wildfires in Alberta are impacting the wider economy.

Key Quotes

“TD expects the pace of residential construction to slow from 191.5k to 185k as efforts to contain the fires draw provincial resources away from the construction industry in Alberta. We are positioned slightly below the market consensus of 189k. April’s building permits are expected to increase  by 1.5% by the market.”