Canadian municipalities issued C$7.9 billion (US$6.5 billion) worth of building permits in July, down 3.5 percent from June and the first decrease since March 2017, according to Statistics Canada. Lower construction intentions for commercial buildings and multi-family dwellings were mainly responsible for the national decline. Seven provinces posted decreases, with the largest decline in Ontario.
The total value of permits was down in seven provinces in July, led by lower construction intentions for multi-family dwellings and commercial buildings in Ontario.
The value of buildings permits fell 3.7 percent to C$3.3 billion (US$2.7 billion) in Ontario, the first decline since April 2017. The decrease was mainly attributable to lower construction intentions in the residential sector, specifically multi-family dwellings, which fell 20.5 percent to C$849.7 million (US$699.6 million) in July.