Investing.com - The number of new building permits issued in Canada rose less-than-expected in January, official data showed on Thursday.
In a report, Statistic Canada said the number of new building permits issued rose by a seasonally adjusted 1.7% in January, compared to expectations for a 5% increase.
December’s figure was revised to a 10.4% drop from a previously reported decline of 11.2%.
The total value of building permits rose to CAD5.8 billion in January. The increase in the residential sector more than offset a decrease in the non-residential sector.
Following the release of the data, the Canadian dollar was higher against its U.S. counterpart, with USD/CAD shedding 0.15% to trade at 1.0304.
In a report, Statistic Canada said the number of new building permits issued rose by a seasonally adjusted 1.7% in January, compared to expectations for a 5% increase.
December’s figure was revised to a 10.4% drop from a previously reported decline of 11.2%.
The total value of building permits rose to CAD5.8 billion in January. The increase in the residential sector more than offset a decrease in the non-residential sector.
Following the release of the data, the Canadian dollar was higher against its U.S. counterpart, with USD/CAD shedding 0.15% to trade at 1.0304.