August 7, 2014 / 12:37 PM / 5 years ago

Value of Canadian building permits jumps 13.5 percent in June

A condominium construction site is seen in Toronto, March 11, 2014. REUTERS/Aaron Harris

OTTAWA (Reuters) - The value of Canadian building permits issued in June unexpectedly jumped by 13.5 percent on higher construction intentions in the powerful province of Quebec, Statistics Canada said on Thursday.

Market analysts had expected a 2.0 percent month-on-month decline after the 15.4 percent advance seen in May. Building permits data are used as a leading indicator of activity in the construction industry.

The value of non-residential building permits rose by 32.5 percent - a third consecutive monthly gain and the largest since July 2013 - led by the institutional and industrial components.

Quebec, the second most populous of Canada’s 10 provinces, posted a sharp increase in construction intentions for medical facilities as well as information technology buildings.

In the residential sector, the value of permits edged up by 0.4 percent, a fourth consecutive monthly increase.

Construction intentions for single-family units rose by 5.5 percent from May, the third consecutive advance. Permits for multi-family units fell by 6.0 percent after three straight monthly increases.

Reporting by David Ljunggren; Editing by Nick Zieminski

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