Building Permits rebound in December
A sharp rise in building permits for multi-family dwellings helped boost the overall value of Canadian building permits by 2.4 percent in December from November, according to Statistics Canada.
The total rise was slightly less than the 3.0% predicted by analysts in a Reuters' poll and followed substantial declines in the previous two months. All figures are seasonally adjusted.
Multi-family building permits rose 55.3% in December to the highest level since April 2008. The value of permits for single-family units also rose, by a more modest 3.6%.
The value of non-residential permits declined by 22.0% to the lowest level since January 2010. Commercial building permits were off by 21.7%, institutional by 38.0%, and industrial by 0.4%.
The overall rise capped a year in which permits rose by 19.8% from 2009, led by a 27.6% increase in residential permits.
(Source: BNN)
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