Canadian Building Permits Decline in August

Statistics Canada (StatsCan) is reported today (10-4-21) that the nationwide total of building permits decreased -2.1% month-over-month in August to $9.7 billion (CAD). The report notes that while most of the provinces reported increases in building permits, significant declines in British Columbia and Ontario resulted in the lower month-over-month loss. On a constant dollar basis (2012=100), the total value of building permits fell -1.3%.

In August, residential permits dropped to their lowest level since March, declining -8.3% to $ 6.4 billion. The provinces of Ontario and B.C. drove the decline. Construction intentions for multi-family units fell -15.9%.

In contrast, single family intentions were up slightly (+1.2%), led by a 15.7% gain in Quebec. Additionally, Newfoundland and Labrador (+0.7%) reported the first provincial increase in this component after six consecutive monthly declines.

Non-residential building permits rose 12.3% to $3.3 billion, led by higher construction intentions in Quebec and Alberta. Commercial building permits were up 14.9% nationally. The value of institutional building permits rose 21.9% in August. Construction intentions for industrial buildings decreased -7.3% to $543 million in August.

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Original Source:
Building permits, August 2021