UPDATE 1-Canada Oct building permits fall 6.5 pct

* Permits fall 6.5 pct vs estimate of 4.5 pct drop

* Housing permits tumble 11.2 pct, led by Ontario and
Quebec
(Adds details)

OTTAWA, Dec 6 (BestGrowthStock) – The value of Canadian building
permits issued in October fell 6.5 percent, partially erasing
big gains in September as the housing market continued to cool,
according to Statistics Canada data on Monday.

The decrease was bigger than the 4.5 percent decline
forecasts by analysts in a Reuters poll and followed a 14.9
percent jump in permits in September, revised from an initial
estimate of a 15.3 percent gain.

In the residential sector, the value of permits tumbled
11.2 percent following two months of gains. Single-family units
fell 9.4 percent and multifamily dwellings slid 13.6 percent
from September, with the two biggest provinces of Ontario and
Quebec posting the largest downturns.

Permits in the nonresidential sector edged up 0.1 percent
as higher commercial and industrial construction offset a
decline in institutional projects.

The overall value of permits was 1.1 percent lower in
October than a year earlier but stood at levels comparable to
prior to the 2009 recession.
(Reporting by Louise Egan; Editing by Jeffrey Hodgson)

UPDATE 1-Canada Oct building permits fall 6.5 pct