Canada Sept building permits -6.5% vs -1.6% expected

<ul><li>Prior was +3.4% (revised to +4.3%)</li><li>Sept permit value $11.2B</li><li>Residential permits +4.3% m/m</li><li>Non-residential -21.0%</li><li>Permits up 3.4% in Q3</li></ul><p>There is a crunch coming for Canadian real estate and <a href="https://www.theglobeandmail.com/business/article-property-developer-westbank-faces-lawsuits-over-sprawling-mirvish/" target="_blank" rel="nofollow">rumors are swirling</a> about the demise of a prominent developer but there is a long lag at work before it hits construction. It's coming but it's not here yet.</p><p>The story in this month's data is that August institutional construction was at a record with several large projects worth a total of $2.1 billion and that has run off.</p>

This article was written by Adam Button at www.forexlive.com.