Investing.com - The number of new building permits issued in Canada rose significantly more-than-expected in October, erasing the previous month’s sharp decline, official data showed on Thursday.
In a report, Statistic Canada said the number of new building permits issued rose by a seasonally adjusted 15% in October, compared to expectations for a 3.0% increase.
September’s figure was revised to a 12.7% drop from a previously reported decline of 13.5%.
The total value of building permits rose to CAD7.5 billion in October. The increase was primarily the result of higher construction intentions for non-residential buildings, mostly in Ontario and Quebec.
Following the release of the data, the Canadian dollar was little changed against its U.S. counterpart, with USD/CAD dipping 0.03% to trade at 0.9914.
In a report, Statistic Canada said the number of new building permits issued rose by a seasonally adjusted 15% in October, compared to expectations for a 3.0% increase.
September’s figure was revised to a 12.7% drop from a previously reported decline of 13.5%.
The total value of building permits rose to CAD7.5 billion in October. The increase was primarily the result of higher construction intentions for non-residential buildings, mostly in Ontario and Quebec.
Following the release of the data, the Canadian dollar was little changed against its U.S. counterpart, with USD/CAD dipping 0.03% to trade at 0.9914.