Building permits up in May; hits highest level in five years: StatsCan - InfoNews

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Building permits up in May; hits highest level in five years: StatsCan

A dump truck gets set to dump clean fill at a new housing development in Oakville, Ont. on Aug.26, 2011. THE CANADIAN PRESS/Richard Buchan
July 06, 2012 - 9:00 AM

OTTAWA - Statistics Canada says municipalities issued $7 billion worth of building permits in May, up 7.4 per cent from April and the highest level since May 2007.

The jump followed a 4.4 per cent decline in April.

The agency says the increase was largely due to higher construction intentions for institutional buildings in Alberta, British Columbia and Saskatchewan and for multi-family dwellings in British Columbia.

The value of residential building permits increased 8.5 per cent to $4.1 billion, following four consecutive monthly declines.

Non-residential construction intentions rose six per cent to $2.9 billion after a seven per cent decline the previous month.

The value of building permits increased in seven provinces in May, led by British Columbia, Saskatchewan and Alberta.

News from © The Canadian Press, 2012
The Canadian Press

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