UPDATE 1-Canada building permits unexpectedly plunge in September

Mon Nov 5, 2012 8:32am EST

Related Topics

* Housing permits edge up by 0.4 percent

* Non-residential permits sink by 30.8 percent

OTTAWA, Nov 5 (Reuters) - The value of building permits issued in Canada unexpectedly fell by 13.2 percent in September from August, dragged down by a major drop in the non-residential sector, Statistics Canada data indicated on Monday.

The fall - the greatest since the 23.7 percent plunge recorded in Aptil 2011 - was far greater than the 3.0 percent decrease forecast by market operators. Statscan revised August's advance to 9.5 percent from an initial 7.9 percent.

Construction intentions in the non-residential sector plummeted by 30.8 percent in September after increasing by 27.7 percent in August.

All three components were down, with industrial and institutional permits posting particularly steep drops.

The value of residential permits climbed by 0.4 percent after two monthly decreases. Single-family dwellings advanced by 3.4 percent while multi-family dwellings dropped by 3.8 percent.

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.