Canadian building permits -11.6% vs. -3.0% forecast

The number of building permits issued in Canada fell more-than-expected last month, official data showed on Tuesday.

In a report, Statistics Canada said that Canadian building permits fell to a seasonally adjusted annual rate of -11.6%, from 8.1% in the preceding month whose figure was revised down from 8.5%.

Analysts had expected Canadian building permits to fall to -3.0% last month.