Canada: Building permits rose for a second straight month, up 3.5% to $8.2 bln in Oct

Eren Sengezer FXStreet

"The value of building permits rose for a second straight month, up 3.5% to $8.2 billion in October," the Statistics Canada reported today.

Key highlights

All building components increased with the exception of the institutional component, which declined 14.3%, offsetting much of the gain from the previous month.

The value of permits for non-residential buildings increased $171.7 million to $3.3 billion in October, the second consecutive monthly gain.

The commercial component was the main contributor to the 5.5% increase in the non-residential sector.

The value of permits for the industrial component passed the $700 million-mark for the first time in five years.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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