Value of Canadian building permits down 2.4 percent in November

Thursday, 09 January 2020 21:43:47 (GMT+3)   |   San Diego

According to Statistics Canada, the total value of building permits issued by Canadian municipalities decreased 2.4 percent to $8.1 billion in November. Declines were reported in six provinces, with the largest decrease in Ontario (-5.7 percent to $3.2 billion). Quebec (+10.3 percent to $1.9 billion) offset some of this decline.

Not including Prince Edward Island, permits for multi-family dwellings were down in all provinces, decreasing 11.3 percent to $2.5 billion.

The total value of permits for single family dwellings offset some of this decline, rising 5.6 percent to $2.3 billion, led by Ontario (+$78 million) and British Columbia (+$41 million).

Non-residential permits were largely unchanged in November (-0.1 percent), however there was notable movement within the components.

The value of industrial permits rose 24.5 percent to $753 million. The majority of this gain was attributable to a high value permit for an organic waste management facility in Québec City.

Meanwhile, the value of institutional permits rose 14.5 percent to $894 million, largely due to gains in the province of Quebec (+$209 million) resulting from building intentions for healthcare and educational facilities.

A decline in commercial permits (-13.5 percent to $1.7 billion) offset the gains noted above.

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