Construction intentions in November off 17.9 per cent: StatsCan

OTTAWA – Statistics Canada says municipalities issued building permits worth $6.2 billion in November, down 17.9 per cent from October and the lowest number since January 2012.

The agency says the drop follows a 15.9 per cent increase in October.

Analysts had been expecting a smaller month-to-month decline of 7.6 per cent.

Statistics Canada attributes the November drop to reduced construction intentions in both the non-residential and residential sectors in Ontario.

Nationally, construction intentions in the non-residential sector fell 30.6 per cent to $2.4 billion, following a 53.6 per cent increase the previous month.

In the residential sector, the value of permits declined 6.8 per cent to $3.8 billion in November, following a 4.4 decline in October.

Construction intentions fell in seven provinces in November, with Ontario posting the largest decline, followed by Quebec and Saskatchewan.




Browse

Your email address will not be published. Required fields are marked *