Canada's building permits jump 6.1% to $11.6 billion in June

By Ovunc Kutlu

ISTANBUL (AA) - Building permits in Canada jumped 6.1% in June to $11.6 billion, according to the country's statistical authority on Wednesday.

While the expectations for the figure was to show a decline of 3.5%, it followed a strong gain of 12.6% in May.

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

In June, the institutional component of building permits soared 67.2% to $619.3 million on a monthly basis, according to Statistics Canada.

The total monthly value of non-residential permits increased 20.4% to $4.7 billion in June, it added.

The monthly value of residential permits, however, declined 1.8% to $6.9 billion in June, compared to the previous month.