European Investor
15 Jun 2026, 14:19
Canadian Housing Market Shows Resilience as Wholesale Sales Beat Expectations
Canada's economy delivered mixed but generally encouraging signals on Monday, as housing construction activity exceeded expectations and wholesale sales posted stronger-than-forecast growth.
Housing starts came in at an annualized rate of 261,400 units in May, surpassing economists' expectations of 255,000 units. While the figure was below April's 278,400 units, the result suggests that homebuilding activity remains relatively resilient despite elevated borrowing costs and affordability challenges.
Meanwhile, wholesale sales increased 0.6% month-over-month in April, significantly outperforming forecasts for a 0.1% gain. Although sales growth slowed from March's robust 1.6% increase, the latest data points to continued strength in business activity and inventory movement across the Canadian economy.
Overall, the data indicate that Canada's economy remains on stable footing, with key sectors continuing to expand even as growth moderates from earlier highs.
Canada's economy delivered mixed but generally encouraging signals on Monday, as housing construction activity exceeded expectations and wholesale sales posted stronger-than-forecast growth.
Housing starts came in at an annualized rate of 261,400 units in May, surpassing economists' expectations of 255,000 units. While the figure was below April's 278,400 units, the result suggests that homebuilding activity remains relatively resilient despite elevated borrowing costs and affordability challenges.
Meanwhile, wholesale sales increased 0.6% month-over-month in April, significantly outperforming forecasts for a 0.1% gain. Although sales growth slowed from March's robust 1.6% increase, the latest data points to continued strength in business activity and inventory movement across the Canadian economy.
Overall, the data indicate that Canada's economy remains on stable footing, with key sectors continuing to expand even as growth moderates from earlier highs.