Canadian building permits rose 1.7% to 5.85 billion Canadian dollars in january as demand increased to build residential units after 6 straight months of declines, Statistics Canada said Thursday.
On a year-over-year basis, building permits declined 4.3% in January as the government tightened rules on mortgage financing in summer.
The permits in the residential sector jumped 17.6% to 3.84 bln Can dollars, while non-residential permits fell 19.2% to 2.0 bln Can dollars