Canada building permits drop in August from July

Tue Oct 7, 2014 8:43am EDT
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OTTAWA Oct 7 (Reuters) - The value of Canadian building permits fell more than expected in August from July, according to Statistics Canada data released on Tuesday.

The total value of building permits issued by Canadian municipalities fell 27.3 percent to C$6.7 billion ($6 billion) in August, the federal agency said.

It said the August decline was mainly the result of lower construction intentions for non-residential buildings in Quebec and residential buildings in Ontario.

Analysts surveyed by Reuters had expected a decrease of 12.5 percent in the value of building permits in August.

(1 US dollar = 1.1163 Canadian dollar) (Reporting by Alex Paterson in Ottawa and Jeffrey Hodgson in Toronto Editing by W Simon)