OTTAWA, Feb 8 (Reuters) - The value of Canadian building
permits jumped more than expected in December, driven by
increased construction intentions for multi-family homes across
much of the country, data from Statistics Canada showed on
Monday.
The 11.3 percent rise topped economists' forecasts for a
gain of 5.6 percent, though it was not enough to completely
offset the 19.9 percent decline seen in November.
Residential building permits climbed 16.3 percent as plans
to build multi-family dwellings such as apartments and
condominiums rebounded by 39.1 percent. Intentions to build
single-family homes edged down 0.1 percent.
Non-residential building permits rose 2.5 percent as higher
construction intentions for commercial buildings eclipsed
decreased plans in the institutional and industrial sectors.
Alberta, which has been hit by the downturn in the energy
sector, recovered some of the previous month's decline as the
total value of building permits jumped 26 percent. Overall,
building permits rose in eight provinces, with Alberta racking
up the biggest gain.
For 2015 as a whole, building permits totaled C$85 billion
($60.96 billion), little changed from a year earlier, the
statistics agency said. A 4.4 percent increase in residential
construction plans was offset by a 6.3 percent decline in the
non-residential segment.
($1 = 1.3943 Canadian dollars)