-
Policy
Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM POLICY: -
EM Policy
EM Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM EM POLICY: -
G10 Markets
G10 Markets
Real-time insight on key fixed income and fx markets.
Launch MNI PodcastsFixed IncomeFI Markets AnalysisCentral Bank PreviewsFI PiFixed Income Technical AnalysisUS$ Credit Supply PipelineGilt Week AheadGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance CalendarsEZ/UK Bond Auction CalendarEZ/UK T-bill Auction CalendarUS Treasury Auction CalendarPolitical RiskMNI Political Risk AnalysisMNI Political Risk - US Daily BriefMNI Political Risk - The week AheadElection Previews -
Emerging Markets
Emerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
-
Commodities
Commodities
Real-time insight of oil & gas markets
-
Credit
Credit
Real time insight of credit markets
-
Data
-
Global Macro
Global Macro
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
Global MacroDM Central Bank PreviewsDM Central Bank ReviewsEM Central Bank PreviewsEM Central Bank ReviewsBalance Sheet AnalysisData AnalysisEurozone DataUK DataUS DataAPAC DataInflation InsightEmployment InsightGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance Calendars EZ/UK Bond Auction Calendar EZ/UK T-bill Auction Calendar US Treasury Auction Calendar Chart Packs -
About Us
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
Real-time Actionable Insight
Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessAnalysis:Canada Jun Building Permits +2.5%;Single Family Down>
--Residential -0.9%, Non-Residential +8.8%
By Yali N'Diaye
OTTAWA (MNI) - The value of permits issued by Canadian
municipalities, an indicator of future construction activity, rose for
the third consecutive month in June, posting a 2.5% gain following an
upwardly revised increase of 10.7% in May, Statistics Canada reported
Wednesday.
All components of residential and non-residential construction
intentions were up on the month, except for a 12.5% drop in
single-family dwellings that sent overall residential permits down 0.9%.
A 12.5% increase in multiple-family dwellings was not enough to offset
the weakness in the single-family category.
Construction intentions in the non-residential sector rose 8.8% on
the month and 28.1% year-over-year, led by commercial permits, which
rose 13.0% from May.
Building permits for industrial constructions rose 6.3% in June and
they were up 2.1% in the industrial sector.
For the second quarter, building permits rose 4.0%, with
non-residential permits up 12.1% and residential permits edging down
0.1% from the first quarter.
While overall building permits were up in June, including a 12.9%
gain in the Toronto region, the area showed signs of weakness in the
single-family sector, where construction intentions fell 24.7% in June.
Measures to cool down the housing market were announced at the
national level last October, and reinforced at the provincial level by a
Fair Housing Plan introduced by Ontario on April 20, notably to
discourage speculative purchases by foreign investors.
Some observers have said that in response to measures to curb
foreign speculation, some investors could be moving to the Montreal
region, where building permits rose 32.5% in June, the largest gain
since August 2016.
Canada Mortgage and Housing Corporation reported Wednesday that
housing starts rose to a seasonally adjusted annual rate of 222,324 in
July from 212,948 in June, beating analysts' expectations of 205,000.
The six-month trend rose to 217,550 units, ramping up for a seventh
consecutive month, said CMHC Chief Economist Bob Dugan, citing British
Columbia and Alberta as the main contributors.
However, the trend was lower in Toronto.
--MNI Ottawa Bureau; temail: yali.ndiaye@marketnews.com
[TOPICS: MACDS$,M$C$$$]
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.