Canada building permits
- Prior was -14.0% (revised to -11.5%)
- The total value of building permits in Canada rose 13.5% in January to $10.8 billion
- The residential sector increased 12.6% to $6.5 billion in January, while the non-residential sector grew 14.8% to $4.2 billion.
I wouldn’t take this as a sign of a building boom just yet, though that’s certainly what’s needed in Canada. Multi-unit permits rose 35.1% with Ontario leading the way. These numbers can be lumpy. Single-family permits fell 10.3%.
On the non-residential side, a A $200 million permit for a new data centre near Quebec City, greatly contributed to the growth.