Building permits rose 15% to $13.8B in October, well ahead of expectations for a 1% decline…

… driven by a $1.1B rise in residential construction intentions. A multi-family rebound in Ontario led the way, which has been a source of weakness for the majority of the year.

Non-residential permitting was strong too, with higher office permitting in Ontario and institutional activity in BC driving a $700M pickup versus September.