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UPDATE 1-Value of Canada building permits drops on weakness in Ontario

Published 2016-06-08, 08:40 a/m
© Reuters.  UPDATE 1-Value of Canada building permits drops on weakness in Ontario

(Adds data, background)
OTTAWA, June 8 (Reuters) - The value of Canadian building
permits issued in April fell for the second month in a row,
slipping by 0.3 percent from March on lower construction
intentions in Ontario, Statistics Canada said on Wednesday.
Analysts polled by Reuters had predicted a 1.5 percent
increase after March's 6.3 percent decline. April marked the
first time since February 2015 that the value of permits had
dropped for two consecutive months.
The value of permits in Ontario - Canada's most populous
province - fell by 9.2 percent on widespread weakness. In
Alberta, hard hit by a slump in crude prices, permits soared by
27.7 percent after diving 41.3 percent in March.
Nationwide, residential building permits declined by 1.8
percent on a 6.2 percent slide in construction intentions for
multi-family dwellings. Permits for single-family dwellings
increased by 1.8 percent.
The overall value of non-residential permits rose by 2.5
percent on higher construction intentions for universities and
other government buildings.

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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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