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Statistics Canada released housing market data on Thursday. Building permits in Canada jumped 15.5% in February, exceeding expectations for a 4.8% rise, after a 9.5% drop in January. January's figure was revised up from a 9.8% decrease.
The increase was driven by a rise in building permits for commercial buildings in Alberta, single-family dwellings in Ontario and institutional structures in Quebec.
Building permits for non-residential construction were up 33.1% in February, while permits in the residential sector climbed 5.0%.
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