Canada Ivey Purchasing Managers Index - Seasonally Adjusted
|Latest Release:||04-12-2014 15:00:00|
|Next Release:||06-11-2013 15:00:00|
|Source:||Ivey Business School|
Canadian building permits unexpectedly surged in June, as higher non-residential construction intentions in the province of Quebec pushed the value of authorizations to the second-highest on record.
The value of building permits increased 13.5 percent in June, following an upwardly revised gain of 15.4 percent the previous month, Statistics Canada reported today in Ottawa.
A median estimate of market analysts called for building permits to decline 2 percent amid expectations for a cool down in Canadaâs housing sector.
Compared to June 2013, the value of permits was up 20.1 percent, official data showed.
The value of building permits, which are used to gauge future construction activity, has been on the rise since the beginning of 2014.
Authorizations for non-residential projects increased for the third consecutive month and at the fastest pace since July 2013, led by the French-speaking province of Quebec, which was responsible for most of the growth.
The value of non-residential building permits increased 32.5 percent, led by a 63.9 percent gain in industrial projects. Industrial permits rose due to higher construction intentions for information technology buildings in Quebec and utilities buildings in Ontario, StatsCan said.
The value of permits in the institutional component more than doubled in June, led by higher construction intentions for medical facilities in Quebec.
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