Investing.com - The number of new building permits issued in Canada rose unexpectedly in April, increasing for the fourth consecutive month, official data showed on Wednesday.
In a report, Statistic Canada said the number of new building permits issued rose by a seasonally adjusted 10.5% in April, defying expectations for a 4% decline.
March’s figure was revised to a 6% gain from a previously reported increase of 8.6%.
The total value of building permits rose to CAD7 billion in April. The increase came largely from higher construction intentions for multi-family dwellings in Ontario, British Columbia and Quebec.
Following the release of the data, the Canadian dollar was higher against its U.S. counterpart, with USD/CAD easing down 0.1% to trade at 1.0331.
In a report, Statistic Canada said the number of new building permits issued rose by a seasonally adjusted 10.5% in April, defying expectations for a 4% decline.
March’s figure was revised to a 6% gain from a previously reported increase of 8.6%.
The total value of building permits rose to CAD7 billion in April. The increase came largely from higher construction intentions for multi-family dwellings in Ontario, British Columbia and Quebec.
Following the release of the data, the Canadian dollar was higher against its U.S. counterpart, with USD/CAD easing down 0.1% to trade at 1.0331.