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Home » Canada Building Permits Fall 4.6% in November

Canada Building Permits Fall 4.6% in November

By    MDM   Staff 
January 12, 2010
More about:  Canada,  Economy
But the permit value is still 23.1% higher than November 2008, Statistics Canada reports.
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Canadian contractors took out $5.9 billion in building permits in November, down 4.6% from October, but 23.1% higher than November 2008 and 62.8% above February 2009, when the lowest value during the economic downturn was recorded, according to Statistics Canada. However, November's value remained below values recorded in 2007 and early 2008.

The decline in November was due to decreases in the non-residential sector, which outweighed increases in the residential sector.
 
In the residential sector, the value of permits continued its upward trend. Construction intentions, which have started to approach their pre-downturn levels, rose 9.1% to $3.8 billion in November, a fourth consecutive monthly increase. Ontario and British Columbia accounted for most of the gains at the national level.
 
In the non-residential sector, municipalities issued $2.1 billion worth of permits in November, down 21.9% from October. This decrease occurred mainly as a result of declines in Alberta, Saskatchewan and Quebec.
 
The total value of building intentions fell in four provinces: Alberta, Saskatchewan, Quebec and Prince Edward Island.


 
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