OTTAWA - The value of Canadian building permits fell 4.6 percent in November from October, roughly in line with expectations, as a decline in nonresidential projects offset the ninth consecutive increase in housing permits.
Statistics Canada said on Monday permits for nonresidential buildings tumbled 21.9 percent after huge gains the previous month, while construction intentions in the housing sector jumped 9.1 percent and have started to approach their pre-downturn levels, according to Statscan.
The median forecast in a Reuters survey of analysts was for a 4.3 percent decline in total building permits in November.
Compared with a year earlier, the value of permits was 23.1 percent higher but still below 2007 and early 2008 levels.
In housing, where a jump in sales and prices has sparked fears of a housing bubble, permits issued to builders for multi-family units climbed 23.3 percent. Permits for single-family units rose a more modest 2.9 percent. ($1 = $1.03 Canadian) (Reporting by Louise Egan, Editing by Chizu Nomiyama)