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Value of Canada building permits down 14.0% in December

Published 02/06/2024, 08:34 AM
Updated 02/06/2024, 08:36 AM
© Reuters. FILE PHOTO: A crane stands between condo buildings in Liberty Village neighbourhood in Toronto, Ontario, Canada July 13, 2022.  REUTERS/Carlos Osorio/File Photo

Feb 6 (Reuters) - The value of Canadian building permits fell by 14.0% in December from November, Statistics Canada said on Tuesday.

The residential sector saw higher intentions for the single-family component, but it was not enough to overcome the decline in the multi-unit component, while both the industrial and commercial components were up in the non-residential sector. The value of building permits were down in nine provinces, with the largest decrease recorded in Ontario.

Month on month (%)

Dec Nov(rev) Nov(prev)

Total -14.0 -5.0 -3.9

Residential -17.9 -3.8 -2.8

© Reuters. FILE PHOTO: A crane stands between condo buildings in Liberty Village neighbourhood in Toronto, Ontario, Canada July 13, 2022.  REUTERS/Carlos Osorio/File Photo

Nonresidential -7.0 -7.0 -5.8

NOTE: All figures are seasonally adjusted. Analysts surveyed by Reuters forecast an increase of 1.8% in the value of building permits in December from November.

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