Canada March building permits rise 8.6 percent

Mon May 6, 2013 8:31am EDT
 
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(Reuters) - The value of Canadian building permits rose by a higher-than-expected 8.6 percent in March, as construction intentions in the residential and non-residential sectors increased, according to Statistics Canada data on Monday.

A surge in the institutional component boosted the value of permits in the non-residential sector by 19.0 percent. In the residential sector, building permits rose by 1.7 percent on higher multi-family dwelling construction intentions.

Month on month (pct)

March Feb(rev) Feb(prev)

Total +8.6 +1.5 +1.7

Residential +1.7 -8.1 -7.2

Nonresidential +19.0 +20.0 +18.9

NOTE: Analysts surveyed by Reuters had expected an increase of 1.0 percent in the value of building permits in March. All figures are seasonally adjusted.

(Reporting by Alex Paterson; Editing by Louise Egan)