Bldg. Permits Settle in November

One aspect of the Canadian economy tailed off toward the end of calendar 2016.

Figures released Tuesday morning by Statistics Canada revealed the value of Canadian building permits fell by 0.1% in November from October, though that was not as steep a decline as analysts had expected.

Construction intentions declined mostly in Alberta following a spike in the previous month due to impending changes to the Alberta Building Code.

The agency says the total value of residential building permits dropped by 1.6% in November on declining construction intentions for single-family dwellings in Alberta.

StatsCan also says the non-residential sector increased 3% on planned institutional and industrial buildings.