The value of Canadian building permits declined by 3.6 per cent in November, largely as expected, after an 11.6 per cent rise in October, Statistics Canada said on Monday.
The decline was the result of a partial reversal of the 31.9 per cent October spike in the non-residential sector, which fell by 17.6 per cent in November. The trend for the sector over 2011 was still upward.
Permits for commercial buildings fell by 5.1 per cent and industrial permits were off by 12.3 per cent.
The residential sector saw a 6.9 per cent rise after three consecutive declines. Single-family dwellings were up 8.2 per cent and multi-family units by 5.0 per cent.
The median forecast in a Reuters survey of analysts was for a 3.0 per cent overall decline in November.
The biggest factor in October’s decline was a 34.1 per cent slide in the institutional component after a 178.8 per cent leap in October, largely in medical facilities and government buildings.Report Typo/Error
Follow us on Twitter: