Canada November Building Permits Fall on Alberta Rule ChangeGreg Quinn
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.