Canada June building permits -1.5% vs -1.5% expected

• Prior was +2.3%

Details

• Non-residential -10.7% vs +7.0% m/m prior
• Residential +3.1% vs -0.1% m/m prior
• Single family -0.6% vs +7.0% prior
• Multi-family +6.5% vs -5.9% prior

I have some deep concerns about the Canadian real estate market but construction is continuing at a decent clip. That said, it's a lagging indicator.