Canada Building Permits m/m indicate a change in the number of permits issued by Canadian municipalities for new construction projects. The indicator is calculated as a change in the reported month compared to the previous one.
The indicator calculation includes residential sector, non-residential building construction and non-residential engineering construction (bridges, overpasses, etc.).
Data for statistics calculation is collected from a survey of Canadian municipalities that issue permits. The number of municipalities currently surveyed is approximately 2,400, representing all Canada's provinces and territories. The indicator data is seasonally adjusted, since the construction sector is sensitive to seasonal changes.
This is a leading indicator of Canada's construction industry. Statistics on building permits provides source data for calculating construction costs and evaluating net fixed capital in the country on a quarterly and yearly basis. Analysts see the reading growth as positive for the construction sector and related industries (such as construction materials production, mortgage credit sector, labor market, etc.).
The indicator growth can have a positive effect on the Canadian dollar quotes.
The chart of the entire available history of the "Canada Building Permits m/m" macroeconomic indicator. The dashed line shows the forecast values of the economic indicator for the specified dates.
A significant deviation of a real value from a forecast one may cause a short-term strengthening or weakening of a national currency in the Forex market. The threshold values of the indicators signaling the approach of the critical state of the national (local) economy occupy a special place.
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