Statistics Canada released housing market data on Friday. Building permits in Canada slid 19.6% in November, missing expectations for a 3.0% decline, after a 9.9% gain in October. October's figure was revised up from a 9.1% increase.

The drop was driven by declines in residential and non-residential sectors.

Building permits for non-residential construction plunged 22.7% in November, while permits in the residential sector dropped 17.8%.