Canada’s Building Permits See Another Boost

Canada – Building permits in Canada increased by 1.3 percent month over month in October 2021, to CAD 10.3 billion, following a downwardly revised 4.1 percent increase in September and beating market expectations of a 1% decline.

Non-residential construction intentions increased 4.2 percent to CAD 3.4 billion, owing to a 63.2% increase in institutional and governmental permits to CAD 1.2 billion and a 10.1 percent increase in commercial construction works to CAD 1.8 billion.

Meanwhile, the residential sector contracted by 0.1%, as a 10.8% increase in single-family units to CAD 3.4 billion was offset by an 8.8% decline in multi-family units to CAD 3.5 billion.

British Columbia (15.0% to CAD 1.7 billion) and Ontario (4.5 percent to CAD 4.4 billion) contributed the most to the overall increase among Canada’s major provinces.