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- Canada’s building permits climb 12.9 percent in November
Canada’s building permits climb 12.9 percent in November
Statistics
Canada announced on Thursday that the value of building permits issued by the
Canadian municipalities surged 12.9 percent m-o-m in November, following a
revised 12.6 percent m-o-m tumble in October (originally a plunge of 14.6
percent m-o-m).
Economists had
forecast a 3.0 percent increase in November from the previous month.
According to
the report, the value of residential permits climbed 10.0 percent m-o-m in November,
as single-family permits rose 4.4 percent m-o-m, while permits for multi-family
dwellings surged 14.8 percent m-o-m.
At the same
time, the value of non-residential building permits jumped 19.5 percent m-o-m
in November, due to gains in commercial (+31.2 percent m-o-m) and institutional
(+23.2 percent m-o-m) permits, which more than offset a decline in industrial permits
(-9.3 percent m-o-m).
In y-o-y terms,
building permits rose 16.2 percent in November.
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