(RTTNews) - The value of Canadian building permits jumped for a second straight month, belying consensus estimates for a decrease.
Building permits increased 5.4% to C$6.7 billion in April, mainly on gains in the non-residential sector, Statistics Canada said Friday morning. This follows a 12.3% advance in March. On year-over-year basis, value of building permits jumped 48.2%. Consensus were pointing to a decline of 2% in April.
Non-residential sector grew for a third straight month, gaining 32.2% to C$2.8 billion in April. In the residential sector, value of building permits declined 8.0% to C$3.90 billion.
In the Non-residential sector, institutional component jumped 70.0% to C$882 million in April and the commercial component value of permits were up 29.1% to $1.5 billion.
Total value of permits moved up in Ontario, Nova Scotia and Alberta, while British Colombia recorded big declines.
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