Canada Building Permits Up Less Than Expected in October

        By Nirmala Menon
        OTTAWA--Canadian monthly building permits increased less than expected in October as plans to build condominiums and apartments fell, and non-residential construction plans rose.
        The total value of permits issued during the month climbed 0.7% to 7.53 billion Canadian dollars ($6.59 billion), the second consecutive increase following a revised 12.5% gain in September, Statistics Canada said Monday.
        Markets had expected a rise of 3.9% from the originally estimated 12.7% increase in the previous month, according to a report from Royal Bank of Canada.
        Permits for residential buildings declined 0.4% to C$4.46 billion, dragged by a 0.9% decline in plans to build multi-family dwellings, a category that comprises condominiums, apartments and town houses. Plans to build single-family homes were flat.
        Non-residential permits were up 2.4% to C$3.07 billion due to increased planned construction of utilities buildings, manufacturing plants and hospitals.
        Write to Nirmala Menon at nirmala.menon@wsj.com
        (END) Dow Jones Newswires

        December 08, 2014 08:30 ET (13:30 GMT)
#Nirmala_Menon
#Canada
#Building