Canada: Building permits increase 0.4% in August following July's 1.5% contraction

"Canadian municipalities issued $8.1 billion worth of building permits in August, up 0.4% from July," reported Statistics Canada today.

Key highlights from the official publication

• Strength in the non-residential sector drove the increase, while the residential sector declined for the third consecutive month.
• In the non-residential sector, $3.2 billion worth of permits were issued in August, up 8.8% from the previous month.
• Meanwhile, the value of industrial permits fell 5.9% in August to $677 million. This followed a 13.4% gain in July.