CORRECTED-Canada July building permits unexpectedly jump to new record

Mon Sep 8, 2014 11:37am EDT
 
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(Corrects polling estimate in last paragraph to a decrease of 6.8 percent from a decrease of 10.0 percent)

OTTAWA, Sept 8 (Reuters) - Sept 8 (Reuters) - The value of Canadian building permits unexpectedly jumped in July, by 11.8 percent, to a record level, and June's increase was also revised up to 16.4 percent, according to Statistics Canada data released on Monday.

Condo and apartment projects in Ontario and British Columbia were largely responsible for the increase. The value of building permits for multi-family dwellings shot up by 43.4 percent. The total value of building permits rose to a seasonally adjusted C$9.16 billion ($8.40 billion) from June's record C$8.20 billion.

Month on month (pct)

July June(rev) June (prev) Total +11.8 +16.4 +13.5 Residential +18.0 +0.8 +0.4 Nonresidential +5.2 +39.0 +32.5 NOTE: Analysts surveyed by Reuters had expected a decrease of 6.8 percent in the value of building permits in July. All figures are seasonally adjusted.

($1=$1.09 Canadian)

(Reporting by Randall Palmer; Editing by David Ljunggren) (Reporting by Randall Palmer)