June 5, 2014 / 12:37 PM / in 3 years

Canada April building permits rise on housing plans

OTTAWA, (Reuters) - 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 C$6 billion ($5.5 billion) worth of permits in the month, Statistics Canada reported on Thursday, up 1.1 percent from March but below the market forecast of a 4 percent increase.

Statscan revised the March decrease in permits to 3.2 percent from 3 percent.

The value of residential permits rose for the second straight month, up 2 percent from March. Intentions for single-family dwellings jumped 2.8 percent as an increase in Ontario offset declines in Alberta and four other provinces.

For multiple-family dwellings, the value of permits climbed 1.1 percent, led by Alberta.

The strength in housing was partially offset by a 0.4 percent 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 percent, with the residential component down 13.8 percent and the non-residential component down 12.7 percent.

Reporting by Louise Egan and Alex Paterson; Editing by Sofina Mirza-Reid

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below