Statistics Canada (StatsCan) reported on Tuesday (7-5-22) that the total value of building permits in Canada increased 2.3% in May to $12.1 billion (CAD). On a constant dollar basis (2012=100), the total value of building permits increased 1.8% to $7.7 billion.
The provinces of British Columbia and Ontario both posted residential gains in May, but that was offset by losses in seven other provinces, and as a result, residential permits inched lower 0.1% to 7.8 billion. Overall, the number of new units created decreased 3.4% compared with April. The decline in the multi-family component of 6.4%, was partially offset by the increase in the single-family home component of 5.4%.
The total value of non-residential sector permits increased 7.0% to $4.3 billion in May. Gains in the commercial and institutional sectors outweighed losses in the industrial component, which declined 6.1%.
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Building permits, May 2022