Statistics Canada reported Thursday that building permits in the country totaled $5.8 billion in January, up 1.7 percent from December. The increase in the residential sector more than offset a decrease in the non-residential sector. Despite the advance, the total value of building permits has been trending downward since October 2012.
In the residential sector, the value of permits increased 17.6 percent to $3.8 billion in January, following six consecutive months of decline. However, residential construction intentions are continuing a downward trend that began in July 2012.
Construction intentions in the non-residential sector fell 19.2 percent to $2.0 billion, following a 7.8 percent decrease the previous month. The total value of non-residential permits has been on an upward trend since June 2012, following a relatively flat period that began in May 2011.