Canada February building permits +8.6% vs +2.0% expected

• Prior was -4.0% (revised to -3.7%)
• Value at $10.7 billion vs $9.8 billion prior
• Residential +7.9% vs -6.6% prior
• Non-residential +9.8% vs +0.7% prior
• Multi-family +13.6% vs -8.3% prior

There were some major condo and rental buildings that were approved in Toronto in February so this might be a bit of an illusion but the backlog of condos in the city will keep GDP GDP Gross Domestic Product (GDP) is the monetary value of all the goods and services produced within a country's borders in a specific period of time, typically a year. It is used to measure the economic activity and growth of a country. Periods shorter than a year are often presented in an annualized or year-over-year format.There are three ways to calculate GDP:The expenditure approach: GDP is calculated by adding up all the spending on goods and services within a country. This includes consumer s Gross Domestic Product (GDP) is the monetary value of all the goods and services produced within a country's borders in a specific period of time, typically a year. It is used to measure the economic activity and growth of a country. Periods shorter than a year are often presented in an annualized or year-over-year format.There are three ways to calculate GDP:The expenditure approach: GDP is calculated by adding up all the spending on goods and services within a country. This includes consumer s Read this Term higher than it otherwise would have been. I worry that the long lags on those projects into a softening market will lead to something of a Wile E Coyote moment next year. Single family home permits rose 0.5%.