Canada's building permits rise 3.4% in August

ISTANBUL

Building permits in Canada rose 3.4% in August to $11.9 billion, according to the country's statistical authority Wednesday.

The figure was higher than estimates of a 0.5% increase, after strong gains of 6.1% in June and 12.6% in May. It, however, declined 3.8% in July.

Building permits plummeted 18.8% in April to their lowest since December 2020.

The total monthly value of residential permits, however, declined 3.7% to $6.8 billion in August, Statistics Canada said in a statement.

"These declines were partly offset by monthly gains in the value of single-family home permits," it added.