Investing.com - The number of new building permits issued in Canada rose significantly more than expected in September, easing concerns over the health of the country’s real estate sector, official data showed on Thursday.
In a report, Statistic Canada said the number of new building permits issued climbed by a seasonally adjusted 12.7% in September, much better than expectations for a gain of 5.2%.
New building permits issued in August plunged 27.3%.
The increase in September resulted primarily from higher construction intentions for both non-residential and residential buildings in Ontario.
USD/CAD was trading at 1.1423 from around 1.1412 ahead of the release of the data.