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Stock impact report

Housing starts drop 15% in January, CMHC reports [Globe and Mail, The (Toronto, Canada)]

Cabot Corporation (CBT) 
Last cabot corporation earnings: 2/3 04:16 pm Check Earnings Report
US:NYSE Investor Relations: cabotog.com/investors
The national housing agency said the seasonally-adjusted annual pace of housing starts declined 15 per cent in January. “The six-month trend has decreased for the fourth consecutive month,” said CMHC deputy chief economist Tania Bourassa-Ochoa in a news release. “We expect new construction to continue trending lower going forward as trade and geopolitical uncertainty, high construction costs, weaker demand, and rising inventories continue to constrain developer activity.” She said a near-term turnaround is looking unlikely, and reflects what the agency has been hearing from developers over recent months. Most homeowners dodge mortgage renewal pain as Toronto, Vancouver flash warning signs: CMHC The pullback comes amid a variety of pressures, including lower immigration numbers and economic uncertainty over changing U.S. trade policy. January's seasonally adjusted annual rate worked out to 238,049 units, compared with 280,668 units in December. It says the January drop mor Show less Read more
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