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Statistics Canada released housing market data on Wednesday. Building permits in Canada fell 0.6% in July, beating expectations for a 5.0% drop, after a 15.5% rise in June. June's figure was revised up from a 14.8% increase.
The decline was driven by lower construction intentions in the non-residential sector.
Building permits for non-residential construction dropped 13.9% in July, while permits in the residential sector climbed 8.7%.
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