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OTTAWA, Aug 7 (Reuters) - The value of building permits
issued in June beat expectations and wiped out a decline from
the month before, jumping 14.8 percent, mainly because of
apartment and condo construction projects, according to
Statistics Canada data on Friday.
Analysts had forecast an increase of only 5.0 percent. May's
decline was revised to 13.9 percent from 14.5 percent.
The residential and nonresidential segments rose by similar
percentages, but within residential the big distinction was seen
in multi-family dwellings, where the value of permits soared by
36.9 percent from May.
It is particularly the hot condo market that has had policy
makers most concerned.