June 6, 2018 / 12:46 PM / a year ago

Canada building permits sink by most in five months in April

A sign advertising the sale of new homes stands in empty lot of land in East Gwillimbury, Ontario, Canada, January 30, 2018. Picture taken January 30, 2018. REUTERS/Mark Blinch

OTTAWA (Reuters) - The value of Canadian building permits fell by 4.6 percent in April from March, the biggest decline in five months, on weakness in both the residential and non residential sectors, Statistics Canada said on Wednesday.

Statscan revised March’s figures to show a gain of just 1.3 percent compared to an initial 3.1 percent rise, in part to reflect late-arriving data.

The value of residential permits declined by 4.3 percent, pulled down by a 5.2 percent drop in permits for multi-family dwellings. The value of single-family permits dipped by 3.3 percent, a fourth consecutive decline, on weakness in Ontario.

The government in Ontario, Canada’s most populous province, took a number of steps to rein in the hot Toronto housing market last year.

Permits for non-residential structures fell by 5.2 percent on lower construction intentions for industrial buildings such as transportation terminals.

Reporting by David Ljunggren; Editing by Bernadette Baum

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