Investing.com - The number of new building permits issued in Canada fell unexpectedly in December, down for the second consecutive month, official data showed on Thursday.
In a report, Statistic Canada said the number of new building permits issued plunged by a seasonally adjusted 11.2% in December, compared to expectations for a 5% increase.
November’s figure was revised to a 14.5% drop from a previously reported decline of 17.9%.
The total value of building permits fell to CAD5.7 billion in December. This decrease resulted from lower construction intentions in both the residential and non-residential sectors.
Following the release of the data, the Canadian dollar was lower against its U.S. counterpart, with USD/CAD adding 0.1% to trade at 0.9965.
In a report, Statistic Canada said the number of new building permits issued plunged by a seasonally adjusted 11.2% in December, compared to expectations for a 5% increase.
November’s figure was revised to a 14.5% drop from a previously reported decline of 17.9%.
The total value of building permits fell to CAD5.7 billion in December. This decrease resulted from lower construction intentions in both the residential and non-residential sectors.
Following the release of the data, the Canadian dollar was lower against its U.S. counterpart, with USD/CAD adding 0.1% to trade at 0.9965.