Canada: Housing starts to moderate to 212k units in September - TDS

Analysts at TDS explain that we begin the holiday-shortened week with Canadian housing data (starts and permits) and are looking for housing starts to moderate to 212k units in September from 223k, leaving Q3 as a whole still up a solid 6% over Q2.

Key Quotes

“The drop is likely to be driven by starts in Ontario, which came back strongly in the prior two months. Shortly after we will receive building permits for August which are coming off a 3.5% drop. The day also includes Senior Deputy Governor Wilkins, who is speaking on an IMF panel on systemic risk and stress testing at 14:00 EST. There is an audience Q&A but no press conference.”