OTTAWA (Reuters) - The value of Canadian building permits edged down in November due to lower construction intentions in Alberta following a surge the month before ahead of provincial building code changes, data from Statistics Canada showed on Tuesday.
The 0.1 percent decrease was not as large as economists’ forecasts for a decline of 5.0 percent, while October was revised up to a gain of 10.5 percent from the previously reported 8.7 percent.
A 1.6 percent decline in residential building permits led the way lower in November as construction plans for both single-family and multi-family buildings fell.
Alberta posted fewer construction intentions in both residential categories, correcting from a spike in October as builders rushed to get ahead of new energy efficiency rules for residential and commercial buildings that came into effect at the beginning of November.
National non-residential building permits rose 3.0 percent on increased construction plans for institutional buildings, including educational facilities and nursing homes.
Industrial permits rose for the second month in a row on increased plans to build primary industry buildings and manufacturing plants, but permits for commercial buildings dropped with fewer plans to build hotels and office buildings.
Reporting by Leah Schnurr; Editing by Chizu Nomiyama