August 9, 2019 / 1:00 PM / 2 months ago

Canadian building permits fall 3.7% in June

OTTAWA (Reuters) - The value of Canadian building permits declined by an unexpected 3.7% in June to C$8.01 billion ($6.06 billion) as multi-family and institutional permit values dropped, Statistics Canada said on Friday.

Analysts in a Reuters poll had predicted a gain of 1.5% in June.

Statistics Canada said declines were recorded in six Canadian provinces, with oil-rich Alberta accounting for more than one-third of the national decrease.

Multi-family dwellings posted the largest monthly decline, Statscan said, falling 6.7% in June. For non-residential permits, the value of commercial permits fell 1.1% while institutional permits decreased in seven provinces. The value of industrial permits rose 1.7%.

Canadian municipalities, Statscan said, awarded C$25.8 billion in permits in the second quarter, up 5.8% from the first quarter and a 4.1% gain from the second quarter of 2018.

Reporting by Kelsey Johnson, editing by Dale Smith and Steve Orlofsky

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