July 19, 2012
Municipal building permits climb to new levels
Canadian municipalities issued building permits worth $7 billion in May, a 7.4 per cent increase from April and the highest level since May 2007, reports Statistics Canada.
This increased followed a 4.4 per cent decline in April.
May’s gain was largely due to higher construction intentions for institutional buildings in Alberta, British Columbia and Saskatchewan and for multi-family dwellings in B.C.
Non-residential construction intentions rose six per cent to $2.9 billion following a seven per cent decline the previous month. The increase in May was attributed to higher construction intentions in six provinces, led by Saskatchewan and British Columbia.
The value of residential building permits increased 8.5 per cent to $4.1 billion, after four consecutive monthly declines.
In the institutional sector, the value of permits increased 69.4 per cent to $945 million after falling 42.7 per cent in April. All provinces saw increases, expect for Ontario and Newfoundland and Labrador.
The value of permits in the commercial component fell 12.4 per cent to $1.4 billion, following three consecutive monthly advances.
The largest declines occurred in Alberta and British Columbia and were a result of lower construction intentions for office buildings, which had posted significant gains in April.
The value of building permits in industrial declined 4.5 per cent to $549 million, after a 40 per cent increase in April.
The decline was a result of lower construction intentions for manufacturing plants and transportation-related buildings which had seen increases in the previous month.
Declines were posted in five provinces, led by Quebec, Manitoba and British Columbia. The total value of permits rose in 17 of the 34 census metropolitan areas in May.
The largest increases were in Vancouver, Edmonton and Ottawa. Calgary, Thunder Bay and Montréal posted the biggest declines.
DCN NEWS SERVICES
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