The value of building permits issued in Canada rose in April for the first time since January but fell short of expectations as a drop in non-residential construction plans partially offset a gain in housing.
Builders took out $6-billion worth of permits in the month, Statistics Canada reported on Thursday, up 1.1-per-cent jump from March but below the market forecast of a 4-per-cent increase.
Statscan revised the March decrease in permits to 3.2 per cent from 3 per cent.
The value of residential permits rose for the second consecutive month, up 2 per cent from March. Intentions for single-family dwellings jumped 2.8 per cent as an increase in Ontario offset declines in Alberta and four other provinces.
For multiple-family dwellings, the value of permits climbed 1.1 per cent, led by Alberta.
The strength in housing was partially offset by a 0.4-per-cent decline in non-residential construction projects. The value of permits issued in the heavyweight commercial component fell while it rose for the institutional and industrial components.
On a year-on-year basis, the total value of permits fell 13.4 per cent, with the residential component down 13.8 per cent and the non-residential component down 12.7 per cent.
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