May 7, 2015 / 12:42 PM / in 3 years

UPDATE 1-Canada building permits see biggest jump in 6 mths in March

(Adds details from report)

OTTAWA, May 7 (Reuters) - The value of Canadian building permits saw its biggest increase in six months in March, helped by a gain in construction intentions for multi-family homes in Ontario and British Columbia, data from Statistics Canada showed on Thursday.

The value of permits issued for the month jumped 11.6 percent to C$6.87 billion ($5.69 billion), handily topping economists’ forecasts for a gain of 2.5 percent.

It was the first increase in three months and the biggest gain since September 2014, the agency said.

The value of non-residential permits climbed 22.1 percent, with increases seen in several provinces, including British Columbia and Alberta. Construction intentions were higher for a variety of institutional and commercial buildings.

Residential permits rose 6.6 percent, driven by a 19.6 percent rise in plans for multi-family buildings, which includes primarily apartments and condominiums. Construction plans for single-family homes slipped 3.4 percent, down for the second month in a row, with oil-sensitive Alberta seeing the largest drop.

$1 = $1.2078 Canadian Reporting by Leah Schnurr; Editing by Chizu Nomiyama

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below