Investing.com – The number of new building permits issued in Canada fell significantly more-than-expected in October, official data showed on Monday.
In a report, Statistic Canada said the number of new building permits issued fell by a seasonally adjusted 6.5% in October, after jumping by 14.9% in September, whose figure was revised down from 15.3%.
Analysts expected the number of new building permits issued to decline by 2.5% in October.
According to the data, a decline in both the residential and non-residential sectors in Ontario and Quebec led the October decrease.
Following the release of the data, the Canadian dollar was down against its U.S. counterpart, with USD/CAD gaining 0.44% to hit 1.0082.
In a report, Statistic Canada said the number of new building permits issued fell by a seasonally adjusted 6.5% in October, after jumping by 14.9% in September, whose figure was revised down from 15.3%.
Analysts expected the number of new building permits issued to decline by 2.5% in October.
According to the data, a decline in both the residential and non-residential sectors in Ontario and Quebec led the October decrease.
Following the release of the data, the Canadian dollar was down against its U.S. counterpart, with USD/CAD gaining 0.44% to hit 1.0082.