Forexpros – The number of new building permits issued in Canada declined more-than-expected in November, after surging in the previous month, official data showed on Monday.
In a report, Statistic Canada said the number of new building permits issued dropped by a seasonally adjusted 3.6% in November, compared to expectations for a 3.5% decline.
October’s figure was revised to an 11.6% increase from a previously reported gain of 11.9%.
A decline in the non-residential sector, particularly in Ontario, more than offset gains in the value of residential permits.
Following the release of the data, the Canadian dollar remained higher against its U.S. counterpart, with USD/CAD slipping 0.14% to trade at 1.0269.
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