Building Permit Issuance Jumped 8.6% in February

Construction intentions across Canada continue to rise for both residential and non-residential sectors, as a number of provinces reported notable gains.

Data from Statistics Canada shows the total value of building permits rose 8.6% to $10.7 billion in February, with the residential side jumping 7.9% with the issuance of 22,900 new permits, while non-residential permits were up 9.8% t0 $4.2 billion. Among provinces with notable gains were Alberta and Ontario, where permit issuances increased 25.6% and 10.7%, respectively.

Building intentions for multi-unit dwellings sharply rose 13.6% thanks to a number of high-value permits in Ontario, whilst construction intentions for single-family homes rose by a modest 0.5%. Statistics Canada reported that gains across the industrial sector totalled 42%, which offset a 7.6% decline in permit issuance for commercial buildings.


Information for this briefing was found via Statistics Canada. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Leave a Reply

Video Articles

Endeavour Mining Q1 Earnings: Cash Flow Is King

G Mining Oko West Feasibility: Move Fast, Break.. Nothing?

New Gold Q1 Earnings: What’s Behind The Market’s Surprising Reaction?

Recommended

First Majestic Posts Record Cash Flows In Q1 As Production Costs Fall

Brazil Potash Secures Funding In Support Of US$2.5 Billion Autozales Project

Related News

Canadian Building Permits Plummet by Record in September as Housing Market Dramatically Cools

The value of building permits fell by the most on record in September, as rapidly...

Thursday, November 3, 2022, 02:28:00 PM

Canadian Building Permits Slump 4% In January

Intentions for constructing new dwellings dropped 4% in January, as tighter monetary policy push builders...

Friday, March 3, 2023, 11:24:00 AM