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- Canadian municipalities issued $7.5 billion worth of building permits in February, down 2.5% from January
Canadian municipalities issued $7.5 billion worth of building permits in February, down 2.5% from January
Ontario and Alberta led the five provinces that reported declines in February. The national decrease was mainly the result of lower construction intentions for single-family dwellings and institutional structures.
The value of residential building permits issued by Canadian municipalities fell 1.5% from January to $5.0 billion in February, but remained just above the $5.0 billion mark for a second consecutive month. The decline in single-family construction intentions was moderated by an increase in the multi-family component. Four provinces posted decreases in the residential sector in February, led by Ontario.
Construction intentions for single-family dwellings declined 5.4% to $2.6 billion in February. Ontario registered the greatest decrease in this component, more than offsetting the six provinces that reported gains.
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