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Value of Canadian building permits issued in October rises to $7.5 billion
OTTAWA – Statistics Canada says the total value of building permits issued in October was $7.5 billion, edging up 0.7 per cent from September.
That was stronger than an expected decline of 1.4 per cent between September and October, according to estimates compiled by Thomson Reuters.
Statistics Canada says the increase in building permits issued was mostly due to growth in non-residential projects, particularly in British Columbia, Alberta and Saskatchewan.
Building permits for non-residential construction totalled $3.1 billion in October, up 2.4 per cent from the previous month.
There was a decline in the residential sector, with the value of permits edging down 0.4 per cent to $4.5 billion — partially offsetting gains in September when there was a 7.4 per cent increase.
Residential construction plans fell in five provinces, with Quebec and Ontario accounting for most of the decline at the national level. Alberta and Nova Scotia posted the largest increases.
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