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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.


 
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