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Second Estimate: Real GDP Up 4.2% in Q2

Canadian Building Permits Up in August

Municipalities in Canada issued $8.1 billion worth of building permits in August, up 0.4 percent compared to July, according to new data from Statistics Canada. The group cited strength in the non-residential sector, while the residential sector declined for the third straight month.

In the non-residential sector, $3.2 billion worth of permits were issued in August, up 8.8 percent from the previous month. Both the institutional (+25.8%) and commercial (+8.9%) components contributed to the gain, which was largely the result of permits for a new hospital in Ontario and new office buildings in British Columbia, the researcher said.

The value of industrial permits fell 5.9 percent in August to $677 million. This followed a 13.4 percent gain in July, as multiple permits were issued that month for transportation terminals and manufacturing structures in Ontario and Alberta, the researcher also said.

Municipalities issued $5 billion worth of residential permits in August, down 4.4 percent from July and marking the third consecutive monthly decline for the sector.

 

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