UPDATE 1-Canada July building permits hit record, housing tame

Mon Sep 9, 2013 8:34am EDT
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* Permits +20.7 pct; Reuters survey +1.0 pct

* Residential +4.1 pct; nonresidential +45.5 pct

* Commercial +89.2 pct; industrial +11.6 pct; institutional -6.5 pct

* Bank of Canada not too concerned about housing market

OTTAWA, Sept 9 (Reuters) - Canada's construction sector showed surprising strength in July, mainly because of a sudden jump in plans for commercial buildings, with housing showing just a modest rise, according to Statistics Canada data released on Monday.

The seasonally adjusted value of building permits issued in July jumped 20.7 percent from June to a record C$7.99 billion ($7.69 billion), far stronger than the 1.0 percent median forecast in a Reuters survey of economists.

Canadian authorities have been monitoring the housing market carefully for signs of a bubble, but the residential component of building permits rose by a relatively tame 4.1 percent, after a 12.8 percent fall in June and a 4.1 percent rise in May. It stood 3.4 percent below levels of a year earlier, with multiple-family buildings up slightly and single-family homes down somewhat more.