“The value of building permits issued in Canada unexpectedly fell by 13.2% in September from August, dragged down by a major drop in the non-residential sector, Statistics Canada data indicated on Monday.

The fall – the greatest since the 23.7% plunge recorded in Aptil 2011 – was far greater than the 3.0% decrease forecast by market operators. Statscan revised August’s advance to 9.5% from an initial 7.9%.

Construction intentions in the non-residential sector plummeted by 30.8% in September after increasing by 27.7% in August.

All three components were down, with industrial and institutional permits posting particularly steep drops.

The value of residential permits climbed by 0.4% after two monthly decreases. Single-family dwellings advanced by 3.4% while multi-family dwellings dropped by 3.8%.” (Fiancial Post: November 5, 2012).

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http://business.financialpost.com/2012/11/05/canadian-building-permits-hit-the-basement-in-surprise-13-plunge/

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