Canada Building Permits Up 1.5% in September
Residential sector boosts measure of Canadian construction intentions.
The value of building permits in Canada increased 1.6% to $5.1 billion in September. This second consecutive monthly increase came from higher intentions in the residential sector, which more than offset a decline in the non-residential sector, according to Statistics Canada.
The value of residential permits increased 9.4% to $3.2 billion, a level not seen since September 2008. The increase was mainly a result of gains in the value of multi-family dwellings, especially in British Columbia and Ontario.
In the non-residential sector, the value of permits fell 9.1% to $1.9 billion in September. The decline largely reflects drops in the institutional and commercial components in British Columbia.
Overall, the value of building permits fell in three provinces (British Columbia, Manitoba, Newfoundland and Labrador) and two territories (Nunavut and Yukon).
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