UPDATE 1-Value of Canada building permits drops on weakness in Ontario

Wed Jun 8, 2016 8:40am EDT
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OTTAWA, June 8 (Reuters) - The value of Canadian building permits issued in April fell for the second month in a row, slipping by 0.3 percent from March on lower construction intentions in Ontario, Statistics Canada said on Wednesday.

Analysts polled by Reuters had predicted a 1.5 percent increase after March's 6.3 percent decline. April marked the first time since February 2015 that the value of permits had dropped for two consecutive months.

The value of permits in Ontario - Canada's most populous province - fell by 9.2 percent on widespread weakness. In Alberta, hard hit by a slump in crude prices, permits soared by 27.7 percent after diving 41.3 percent in March.

Nationwide, residential building permits declined by 1.8 percent on a 6.2 percent slide in construction intentions for multi-family dwellings. Permits for single-family dwellings increased by 1.8 percent.

The overall value of non-residential permits rose by 2.5 percent on higher construction intentions for universities and other government buildings.

(Reporting by David Ljunggren Editing by W Simon)