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Canadian building intentions up in March

OTTAWA, May 7 (UPI) -- Building intentions in Canada rose 4.7 percent in March, with contractors taking out $6.8 billion worth of permits, Statistics Canada said Monday.

The rise came on the back of a 7.6 percent increase in February and included building intentions in eight of the 10 provinces, the report said.

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March's advance was largely based on new permits for both institutional and commercial buildings, mostly in Ontario.

"In the non-residential sector, the value of permits rose 13.9 percent to $2.9 billion, following a 37.7 percent increase the previous month," StatsCan said. "This was the highest level since June 2010."

Within the non-residential sector, permits for institutional buildings were up 88.4 percent to $973 million, following a 64.6 percent increase in February.

In the residential sector, 17,650 permits were issued for all types of dwellings, a 2.1 percent gain over February, the report said.

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