Statistics Canada reports that Canadian building permits rose in September, led by higher construction intentions for multi-family residential units.

The total value of building permits in September advanced 4.3% on a month-over-month basis to a seasonally adjusted 10.14 billion Canadian dollars, or the equivalent of US$8.20 billion, Statistics Canada said Tuesday. Market expectations weren’t immediately available.

In the previous month, permits issued fell by a slightly revised 2.0%, versus an earlier estimate of a 2.1% decline.

On a year-over-year basis, the overall value of permits issued in September advanced by 4.9%.

Building permits provide an early indication of construction activity in Canada and are based on a survey of 2,400 municipalities, representing 95% of the country’s population. The issuance of a permit doesn’t guarantee that construction is imminent.

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