Statistics Canada reported Wednesday that the value of building permits jumped 20.9 percent to $6.4 billion in May over April, following a 21.5 percent decline in April from March. Building permits were also up 4.6 percent in May 2011 compared to May 2010.
Permits in the non-residential sector climbed 50.9 percent in May, following two consecutive monthly declines. Statistics Canada reported a surge in building permits in every component in the non-residential sectors. Commercial building permits rose 81 percent to $1.9 billion; building permits in the industrial component jumped 22.5 percent to $343 million and the value of institutional building permits increased 3 percent to $506 million.
There were also gains in the residential sector, but more measured as compared to the non-residential building permits. The value of residential building permits totaled $3.7 billion in May, a 5.3 percent month-on-month increase.