Investing.com - The number of new building permits issued in Canada fell significantly more-than-expected in September, erasing the previous month’s strong gain, official data showed on Monday.
In a report, Statistic Canada said the number of new building permits issued dropped by a seasonally adjusted 13.2% in September, compared to expectations for a 3.0% decline.
August’s figure was revised to a 9.5% gain from a previously reported increase of 7.9%.
The total value of building permits fell to CAD6.5 billion in September. The decline was mainly the result of the non-residential sector, where the value of permits in all three components fell.
Following the release of the data, the Canadian dollar held on to losses against its U.S. counterpart, with USD/CAD gaining 0.13% to trade at 0.9971.
In a report, Statistic Canada said the number of new building permits issued dropped by a seasonally adjusted 13.2% in September, compared to expectations for a 3.0% decline.
August’s figure was revised to a 9.5% gain from a previously reported increase of 7.9%.
The total value of building permits fell to CAD6.5 billion in September. The decline was mainly the result of the non-residential sector, where the value of permits in all three components fell.
Following the release of the data, the Canadian dollar held on to losses against its U.S. counterpart, with USD/CAD gaining 0.13% to trade at 0.9971.