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UPDATE 1-Value of Canada building permits drops 3.7 percent in August

Published 2015-10-07, 08:41 a/m
© Reuters. UPDATE 1-Value of Canada building permits drops 3.7 percent in August

(Adds data, background)
OTTAWA, Oct 7 (Reuters) - The value of Canadian building
permits issued in August unexpectedly fell by 3.7 percent from
July on a decline in construction intentions in several
provinces, Statistics Canada data indicated on Wednesday.
Market analysts had expected the value of permits to
increase by 0.8 percent. Statscan revised July's data to show a
0.7 percent increase from June after initially reporting a 0.6
percent decline.
In Ontario, the most populous province, the value of permits
rose by 19.4 percent overall but this increase was offset by
declines elsewhere.
Residential building permits dropped by 5.1 percent, pulled
down by a 8.3 percent fall in multi-family dwellings. The
largest decrease was in British Columbia, where the value of
permits issued for such dwellings hit a record in July.
The value of permits for single-family dwellings dropped by
1.9 percent, the first decline in three months.
Intentions for non-residential construction slipped by 1.3
percent on a decrease in plans for buildings in the utilities,
transportation and medical sectors.

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