Statistics Canada reported Wednesday that the value of building permits fell 12.3 percent to $6 billion in January, reversing a 10.5 percent increase in December. Both residential and non-residential building permits contributed to the drop.
Residential building permits fell 6.6 percent to $4.2 billion in January, after recording gains the previous three months. Non-residential building permits fell a more substantial 23.1 percent to $1.8 billion after a mild 0.3 percent increase in December.