2022-09-20 07:33:57
The total value of building permits in Canada declined 1.5 percent in June to $11.9 billion, according to Statistics Canada. The decrease was mainly due to the non-residential sector, which dropped 10.4 percent to $3.7 billion, after posting its second-highest monthly value. On a constant dollar basis, the total value of building permits decreased 3.4 percent to $7.2 billion. The total value of non-residential sector permits fell 10.4 percent to $3.7 billion, with decreases in British Columbia’s commercial and institutional sectors driving the drop. Commercial permit values decreased 2.7 percent, with declines in eight provinces. In contrast, Ontario saw an increase of 37.5 percent, driven by a permit for a large office building in the city of Toronto. Construction intentions in the institutional component fell 32.2 percent, following strong growth in May resulting from a large hospital permit in British Columbia. The value of industrial permits rose 0.6 percent. Notably, it shot up 206 percent in Saskatchewan, largely due to the construction of a new power plant in Moose Jaw. In the second quarter of 2022, the total value of building permits increased 2.8 percent from the previous quarter to $35.9 billion with gains in both the residential and non-residential sectors. The non-residential sector decreased 5.1 percent, following a strong first quarter. The institutional component, which decreased by 21.9 percent, dragged down the sector, following the issuance of two large hospital permits in the last quarter. Commercial permits declined 0.6 percent, while industrial permits posted gains of 11.4 percent.
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