Building permits decline in November

The value of building permits issued by Canadian municipalities fell by $739.5 million, or 5.9 percent, to $11.7 billion in November, StatCan reports. The residential sector led this second consecutive monthly decline, with permits down by $588.1 million (7.5 percent) to $7.2 billion. While the multi-family sector drove the bulk of that decrease, the value of single-family permits also fell by $65.8 million.