OTTAWA (Reuters) - The value of Canadian building permits rose 4.7 percent in May from April, reversing the decline of the prior month, as strong intentions to build houses outweighed weakness in the non-residential sector, Statistics Canada said on Tuesday.
Statscan revised April’s figures to show a 4.7 percent decline, slightly larger than the 4.6 percent drop initially reported.
The value of residential permits rose 7.7 percent in the month, the second-highest level on record. Five provinces posted an increase with Ontario and British Columbia reporting the largest gains.
The value of permits for multi-family dwellings climbed to a record high. The value of single-family building permits also rose, up 6.2 percent, notching the first increase following four straight monthly declines. Ontario led the gains.
Permits for non-residential structures fell 0.7 percent as commercial and institutional permits both declined, outweighing an increase in industrial permits.
Reporting by Andrea Hopkins and Dale Smith; Editing by Bill Trott