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Statistics Canada released housing market data on Tuesday. Building permits in Canada jumped 9.1% in October, exceeding expectations for a 3.2% rise, after a 6.6% drop in September. September's figure was revised up from a 6.7% decrease.
The rise was driven by an increase in construction intentions in the residential sector.
Building permits for non-residential construction declined 0.2% in October, while permits in the residential sector climbed 15.5%.
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