Building Permits (MoM)

Building Permits data, released by the Statistics Canada, shows the number of permits for new construction projects. Building permit data are widely used as a leading indicator for the construction industry since the issuance of a permit is one of the first steps in the construction process. The data can cause some volatility to the Canadian Dollar (CAD): the higher the number of permits, the more positive (or bullish) it is for the CAD.