Statistics
Canada reported on Wednesday that the value of building permits issued by the
Canadian municipalities rose 1.3 percent m-o-m in October, following a
downwardly revised 4.1 percent m-o-m surge (from 4.3 percent m-o-m) in September.
Economists
had forecast a 1.0 percent drop in October from the previous month.
According
to the report, the value of residential permits edged down 0.1 percent m-o-m in
October, as a 10.8 percent m-o-m jump in single-family
permits was not enough to offset an 8.8 percent m-o-m plunge in permits for
multi-family dwellings.
At
the same time, the value of non-residential building permits rose 4.2 percent
m-o-m in October, reflecting a 49.5 percent m-o-m tumble in industrial permits,
which was partially offset by a 63.2 percent m-o-m climb in institutional permits
and a 10.1 percent m-o-m increase in commercial permits.
From
the perspective of Canada's provinces and territories, the biggest gains in the value of
building permits were recorded in British Columbia (+15.0 percent m-o-m) and
Ontario (+4.5 percent m-o-m).
In
y-o-y terms, building permits surged 17.9 percent in October.