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UPDATE 1-Canada building permits unexpectedly jump in April
June 8, 2015 / 12:37 PM / 3 years ago

UPDATE 1-Canada building permits unexpectedly jump in April

OTTAWA, June 8 (Reuters) - The value of Canadian building permits unexpectedly surged in April for the second month in a row, led by the non-residential sector amid construction plans for medical facilities and government buildings, data from Statistics Canada showed on Monday.

The value of permits rose 11.6 percent to C$7.8 billion ($6.3 billion). That exceeded economists’ expectations for a decline of 6 percent and added on to March’s upwardly revised 13.6 percent gain.

The value of non-residential permits soared 30.2 percent, thanks to higher construction intentions for institutional, commercial and industrial buildings.

Residential permits rose 1.2 percent as construction intentions for single-family homes saw the first increase in three months, of 6.6 percent.

Building plans for multi-family homes slipped 4.5 percent after two months of strong gains.

$1 = $1.2437 Canadian Reporting by Leah Schnurr; Editing by Bernadette Baum

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