- Prior month -1.7% revised to -3.0%
- Building permits for June +18.5% vs +0.8% estimate.
Needless to say much stronger than expected. The growth in construction intentions in June was led by the non-residential sector (+$1.8 billion), while the residential sector (+$479.7 million) made a smaller contribution.
The monthly Canadian Building Permits Survey measures the value of building permits issued by municipalities for both residential and non-residential construction. It also tracks the number of residential dwelling units authorized for construction, as well as the number of dwelling units demolished.
This article was written by Greg Michalowski at investinglive.com.