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UPDATE 1-Canada building permits unexpectedly tumble in Sept

Published 2015-11-06, 08:39 a/m
© Reuters. UPDATE 1-Canada building permits unexpectedly tumble in Sept

(Adds details from report)
OTTAWA, Nov 6 (Reuters) - The value of Canadian building
permits unexpectedly tumbled for the second month in a row in
September on a drop in construction intentions for residential
buildings, data from Statistics Canada showed on Friday.
Permits fell 6.7 percent, far short of analysts expectations
for a gain of 1.3 percent.
Residential building permits dropped by 11.6 percent, driven
by a slump in intentions for multi-family dwellings. Much of
that decline came from the province of Ontario, which had seen a
large increase the month before.
Non-residential construction plans increased by 1.6 percent,
helped by a rise in permits for industrial buildings.

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