(Adds data, background)
OTTAWA, March 8 (Reuters) - The value of Canadian building
permits issued in January dropped by 9.8 percent from December,
the second sharp retreat in three months, Statistics Canada said
on Tuesday.
The fall exceeded the 2.5 percent decline forecast by
analysts in a Reuters poll. Statscan revised December's gain
down to 7.7 percent from an initial 11.3 percent and November's
drop to 12.1 percent from 19.9 percent.
A 21.0 percent decrease in construction intentions for
multi-family dwellings, concentrated in the provinces of Ontario
and British Columbia, was the main reason for the weaker
performance in January.
Overall, the value of residential permits sank by 12.5
percent from December. Non-residential building permits dropped
by 4.8 percent on lower construction intentions for educational
institutions, nursing homes and other government buildings.
The overall value of permits issued in the energy-producing
province of Alberta, hit hard by slumping crude prices, fell by
5.3 percent in January after gaining 3.9 percent in December.
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Graphic - Canada building permits http://link.reuters.com/det73t
Graphic - Canada economic dashboard http://graphics.thomsonreuters.com/15/sc-canada/index.html
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