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Global markets: Canadian building permits down in June

By Commodity News Service Canada

WINNIPEG, August 8 – The following is a glance at the news moving markets globally.

CANADIAN BUILDING PERMITS DROP IN JUNE
Municipalities issued building permits worth C$6.4 billion in June, down 5.5 per cent from the previous month. Lower construction intentions for multi-family dwellings and institutional buildings were mostly responsible for the decline, Statistics Canada said in a report on Monday.

In the residential sector, the value of building permits fell five per cent to C$4.1 billion. This was the third consecutive monthly decline. The decrease in the value of multi-family dwelling permits more than offset the gain posted by single-family homes. Five provinces recorded declines, led by British Columbia and Ontario.

CHINA’S IMPORTS, EXPORTS DROP IN JULY
China’s import and export activity dropped in July, according to reports out of the country on Monday.

The country’s imports dropped 12.5 per cent from year-ago levels, while exports fell 4.4 per cent.

TAIWAN’S EXPORTS UP IN JULY
Taiwan’s export activity increased in July, growing by 1.2 per cent, analysts say.

July’s activity put an end to 17 months of weakening exports, the country’s largest period of consecutive declines.

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