Municipalities issued $6.9 billion worth of building permits in September, down 7.0% from August. Quebec, British Columbia and Ontario recorded the largest declines. The overall decrease was attributable to lower construction intentions for non-residential buildings, led by commercial structures.
The value of non-residential building permits was down 22.3% to $2.2 billion in September, following two consecutive monthly advances. All three non-residential components-commercial, institutional and industrial-posted decreases, with commercial buildings registering the largest drop. Declines were recorded in every province, except Newfoundland and Labrador. The most notable decreases occurred in Ontario and Quebec.
The post Canadian building permits decline significantly in September appeared first on forex-analytics.press.