Statistics Canada reported Thursday that the total value of building permits issued in Canada declined 11.2 percent to $5.7 billion in December following a 14.5 percent November drop. This decrease resulted from lower construction intentions in both the residential and non-residential sectors.
December's decline in construction intentions came from every province except Quebec, with Alberta, Manitoba and Ontario posting the largest decreases.
Construction intentions in the residential sector fell 13.1 percent to $3.3 billion, following a 7 percent decrease the previous month. In the non-residential sector, the value of permits declined 8.5 percent to $2.5 billion in December, the third decrease in four months.