Canada November Building Permits Fall on Alberta Rule Change

Canadian building permits fell in November, reversing a surge in October when contractors in Alberta accelerated projects before revised construction standards took effect.

The value of municipal permits fell 19.6 percent to C$6.23 billion ($4.42 billion), following a revised 9.9 percent gain in October, Statistics Canada said Friday in Ottawa.

Economists forecast a 2.9 percent fall according to the median of 11 responses to a Bloomberg survey.

Permits in Alberta dropped 56 percent to C$953 million, after a surge in October just before a new provincial building code took effect, Statistics Canada said.

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