August building permits slump 10.4 percent in Canada

Friday, 07 October 2011 10:44:12 (GMT+3)   |  

Statistics Canada reported Thursday that building permits totaled $5.9 billion in August, a 10.4 percent decline from July and the second consecutive monthly decline.

Both non-residential and residential building permits fell in August, but non-residential permits led the decline, slipping 16.6 percent to $2.3 billion. Residential building permits were down 6 percent to $3.6 billion after three consecutive monthly increases.

Commercial construction building permits were especially weak, totaling $1.3 billion in August, a 20.6 percent drop from the previous month.


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