|The Canada Building Permits|
|Release Date:||Usually released on a monthly basis, 35 days after the month has come to an end|
|Release Time:||At 9:30am Eastern US time|
|Released By:||Statistics Canada website||The US version of the report|
|Release Date:||About 17 days after the end of the month under review|
|Release Time:||At 8:30am Eastern US Time|
|Released By:||The US Census Bureau|
The Building Permits report is a monthly report issued out of the United States and Canada. It is a measure of the change in the total value of new building permits issued. The report is issued in the US by the US Census Bureau, Department of Commerce and in Canada by Statistics Canada. The US version of the report carries more market weight. This is not unconnected with the role that the US subprime mortgage collapse played in the global financial crisis of 2008.
The US Building Permits is also called the Residential Permits report.
Time of Release
The Canada Building Permits is usually released on a monthly basis, 35 days after the month has come to an end. Information about this news release can be obtained from Statistics Canada website. The news release time is 9:30am Eastern US time.
The US version of the report is available on the website of the US Census Bureau. The news release time is 8:30am, about 17 days after the end of the month under review. It is reported in an annualized format, i.e. the monthly figure is multiplied by 12 and reported.
Interpreting the Data
The Building Permits report is used as an excellent gauge of future construction activity and indeed of the real estate industry because obtaining a permit is among the first steps in constructing a new building. As a trading indicator, the US Building Permits report carries high market impact. An increase in the readings above the expected figure is seen to be USD positive (for the US version) and CAD positive (for the Canadian version). However, only the US Building Permits is seen to be a tradable report as the Canadian Building Permits report has low market impact.
The real estate industry has been estimated to employ about 22 different professions, ranging from architects to registered builders, masons, carpenters, plumbers, interior designers, mortgage brokers, bankers, etc. The global impact of the subprime mortgage collapse of 2008 serves as a reminder of just how important this industry is. As such, all data concerned with housing, real estate and construction are regarded very highly in the financial markets and the US Building Permits report is not an exception.