UPDATE 1-Canada building permits up by 2.4 pct in December

* Nonresidential sector jumps by 6.8 percent

* Value of residential permits approaching pre-crisis peak
(Adds details)

OTTAWA, Feb 4 (BestGrowthStock) – The value of Canadian building
permits rose by 2.4 percent in December from November and ended
the year having largely recouped losses suffered during the
recession, Statistics Canada said on Thursday.

The increase was slightly less than the 2.5 percent gain
forecast by market analysts surveyed by Reuters.

The overall value of permits in December was C$6.2 billion
($5.8 billion), 32.6 per higher than in December 2008. The
sharp slide in permits started after September 2008, a month
when the overall value hit C$6.5 billion.

The nonresidential sector rose by 6.8 percent in December
from November. The residential sector fell by 0.1 percent,
ending a run of nine straight monthly increases, but was 47.3
percent higher than in December 2008.

“In recent months, the value of (residential) permits has
started to approach the peak reached before the economic
slowdown,” Statscan said in its daily commentary.

Stock Analysis

($1=$1.06 Canadian)
(Reporting by David Ljunggren; Editing by Randall Palmer)

UPDATE 1-Canada building permits up by 2.4 pct in December