UPDATE 1-Canada April building permits post unexpected gain

* Nonresidential strength outweighs residential weakness

* Markets had expected a 2.0 percent decrease
(Adds details)

OTTAWA, June 4 (BestGrowthStock) – The value of Canadian building
permits posted an unexpected 5.4 percent gain in April from
March on strength in the nonresidential sectors, Statistics
Canada data indicated on Friday.

Market traders had predicted a 2.0 percent decrease. The
gain was the second month in a row that permits have risen
after four straight months of declines.

Nonresidential intentions jumped by 32.2 percent in April
on gains in both institutional and commercial buildings.

Residential intentions slipped 8.0 percent on declines in
single- and multifamily permits in Ontario, British Columbia
and Quebec — three of Canada’s most powerful provinces.

Permits were up 48.2 percent from a year earlier when their
values were near record lows.

Stock Research
(Reporting by David Ljunggren; Editing by Theodore d’Afflisio)

UPDATE 1-Canada April building permits post unexpected gain