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UPDATE 1-Canada Nov building permits fall after two months' rise
January 9, 2014 / 1:40 PM / 4 years ago

UPDATE 1-Canada Nov building permits fall after two months' rise

* Nov permits -6.7 pct, Oct +8.0 pct (rev from +7.4 pct)

* Reuters forecast -3.0 pct

* Residential -7.6 pct; nonresidential -5.2 pct

OTTAWA, Jan 9 (Reuters) - The value of Canadian building permits fell by more than expected, 6.7 percent, in November from October after an upwardly revised 8.0 percent rise in October, according to Statistics Canada data released on Thursday.

The median forecast in a Reuters survey of analysts was for a fall of only 3.0 percent. The October rise was revised from 7.4 percent and marked the second consecutive monthly climb. All the figures are seasonally adjusted.

Residential construction intentions fell 7.6 percent in November, with both single- and multi-family dwellings taking a hit.

Nonresidential permits were down 5.2 percent, led by a 32.0 percent fall in the lumpy institutional component, due to lower plans for government buildings, schools and medical buildings.

The industrial component also fell, by 2.2 percent, while the commercial part rose 1.8 percent after a 25.0 percent increase in October.

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