Canadian Building Permits Soar 20.7%

Building Permits

The Canadian Dollar is a beast this morning, heading towards 1.0360 against the U.S. Dollar. Canadian building permits sky-rocketed this morning, exceeding economists expectations by 16.3%.

Canadian government figures show that the value of projects, such as shopping malls and office buildings, almost doubled in July.

Building permits rose to a total value of 8 Billion CAD dollars.

The large increase in July likely came because of construction intentions for building in Ontario, Quebec, and Alberta.

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