MNI China Daily Summary: Thursday, April 22

MNI BRIEF: China To Quicken Resolving Local Debt Risks

RPT-MNI INTERVIEW: ECB's Wunsch Sees At Least Two Cuts By Dec

MNI BRIEF: Brazil CenBank Faces Greater Uncertainty - Campos

MNI: PBOC Conducts CNY2 Bln Via OMO Mon; Liquidity Unchanged

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS MON

EZ/UK T-Bill Calendar: 3/6-Month ATB Auction on Tuesday

EZ/UK Bond Supply Calendar: EU, FI Synds; IT, DE Auctions Tues

MNI: CANADA MAR INDUSTRIAL PRICES +0.8% MOM; EX-ENERGY +0.8%

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

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Record Drop In Multi-Unit Housing Permits In Dec

CANADA DATA
DataHomepagemarkets-real-timeData BulletBulletMarketsFixed Income BulletsForeign Exchange Bullets
  • Dec Residential building permits -18% to CAD5.7b; -16% YOY. Multi-unit -31% or -CAD1.3b.
  • Total building permits -14% MOM to CAD9.2b the biggest drop since Apr 2023 and the lowest monthly level since Oct 2020; -15% YOY.
  • Non-residential -7% MOM to CAD3.6b; -13% YOY.
  • Employment in construction -0.9% in Dec and advance estimate for GDP also suggests construction sector declined in Dec.
  • Q4 2023 permits -9% QOQ to CAD31.3b, the lowest quarterly level since Q3 2021.
  • In 2023 building permits -3.2%, in real terms -8.9%. Residential sector posted second consecutive annual decline with -16% in real terms while institutional permits rose from healthcare investments.
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  • Dec Residential building permits -18% to CAD5.7b; -16% YOY. Multi-unit -31% or -CAD1.3b.
  • Total building permits -14% MOM to CAD9.2b the biggest drop since Apr 2023 and the lowest monthly level since Oct 2020; -15% YOY.
  • Non-residential -7% MOM to CAD3.6b; -13% YOY.
  • Employment in construction -0.9% in Dec and advance estimate for GDP also suggests construction sector declined in Dec.
  • Q4 2023 permits -9% QOQ to CAD31.3b, the lowest quarterly level since Q3 2021.
  • In 2023 building permits -3.2%, in real terms -8.9%. Residential sector posted second consecutive annual decline with -16% in real terms while institutional permits rose from healthcare investments.