MNI: 5 Things We Learned From Canadian Building Permits Data>

     OTTAWA (MNI) - The following are the key points from the October 

data on Canadian building permits released Thursday by Statistics 

Canada: 

     - The value of permits issued by Canadian municipalities, an 

indicator of future construction activity, rose 3.5% to a record C$8.2 

billion in October, following a 4.9% increase in September. Permits were 

up just 1.0% year-over-year after rising 13.4% in September. 

     - Monthy gains were widespread across categories: residential 

permits rose 2.3% and non-residential construction intentions were up 

5.5%. 

     - Gains in the residential sector were led by multi-family 

dwellings (+3.0%), with permits for single-family dwellings up 1.6%. 

     - Within the non-residential sector, a 15.6% increase in commercial 

building permits was the main positive contributor, followed by the 

industrial component (+14.2%). The institutional component was the only 

one to post a decline (-14.3%). 

     - Regionally, construction intentions rose again in Toronto, with a 

27.2% gain, the largest in a year. Conversely, permits dropped 19.6% in 

Vancouver, offsetting most of September's 23.0% gain, due to a decline 

in the residential sector. Overall permits rose 15.3% in Ontario but 

fell 7.3% in British Columbia. 

--MNI Ottawa Bureau; email: yali.ndiaye@marketnews.com 

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