- Prior month +11.5
- Building permits -3.1% vs -5.0% est
Further details
- Total value of building permits in Canada decreased by $399.1 million (-3.1%) to $12.6 billion in October.
- Despite the decline, the October’s total value was the fourth-highest level in the series.
- September saw a $1.3 billion rise in construction intentions, the second-highest level in the series.
- Ontario’s construction intentions fell by $696.4 million, driving the national non-residential decline.
- Residential growth in October was tempered by Ontario’s drop after strong contributions in September.
- On a constant dollar basis (2017=100), October permits fell 3.6% month-over-month but rose 8.1% year-over-year.
The building permits can be volatile from a month over month basis but the trend is near the highs
This article was written by Greg Michalowski at www.forexlive.com.
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