Investing.com – The number of new building permits issued in Canada jumped significantly more-than-expected in February, official data showed on Thursday.
In a report, Statistic Canada said the number of new building permits issued rose by a seasonally adjusted 9.9% in February, after tumbling by -6.6% in January, whose figure was revised from a decline of -5.1%.
Analysts expected the number of new building permits issued to rise by 2.1% in February.
According to the data, the February advance was a result of gains in the non-residential sector in Alberta and Ontario, which more than offset the decline in the residential sector.
Following the release of the data, the Canadian dollar was up against its U.S. counterpart, with USD/CAD shedding 0.24% to hit 0.9586.
In a report, Statistic Canada said the number of new building permits issued rose by a seasonally adjusted 9.9% in February, after tumbling by -6.6% in January, whose figure was revised from a decline of -5.1%.
Analysts expected the number of new building permits issued to rise by 2.1% in February.
According to the data, the February advance was a result of gains in the non-residential sector in Alberta and Ontario, which more than offset the decline in the residential sector.
Following the release of the data, the Canadian dollar was up against its U.S. counterpart, with USD/CAD shedding 0.24% to hit 0.9586.