According to Statistics Canada, contractors took out $6.0 billion worth of building permits in March, down 3.0 percent from February. The March decline followed an 11.3 percent decrease the previous month. Construction intentions in the non-residential sector fell 8.8 percent to $2.3 billion in March, the lowest level since January 2013. This follows a 7.4 percent increase the previous month. In the residential sector, the value of permits rose 1.0 percent to $3.7 billion, following a 20.8 percent decrease in February.
Canadian municipalities issued $467 million worth of institutional building permits in March, down 31.3 percent from February. After posting a 29.7 percent increase in February, the value of permits in the industrial component fell 7.7 percent in March to $329 million. In the commercial component, the value of permits rose 1.2 percent to $1.5 billion. Alberta accounted for most of the increase as a result of higher construction intentions for retail complexes and hotels and restaurants. The value of permits for multi-family dwellings rose 7.9 percent to $1.6 billion in March, following a 30.7 percent decrease the previous month. Construction intentions for single-family dwellings fell 3.6 percent to $2.1 billion. This was the fourth decrease in five months and marked the lowest level for the component since February 2011.
