Photo: Kyle May/Flickr
The value of building permits obtained by builders in Canada was up again in September, topping economists’ expectations but still recovering from the hit in August.
Statistics Canada’s latest numbers show permits for buildings in September totalled $7.5 billion in worth, marking a 12.7 per cent rise from August. The boost follows a 27.3 per cent drop the month before.
Economists say the down-up swing in the past two months can be attributed to institutional permits, which were up 87 per cent in September after disappearing in August.
Ontario drove the overall advance, with large increases in the value of institutional, commercial and multi-family home permits.
The value of non-residential building permits rose 23.9 per cent overall to $3.1 billion, marking the fifth increase in six months.
Ontario, followed by Quebec and Nova Scotia led the way for non-residential construction, with Newfoundland and Labrador and Alberta having the largest declines.
In the residential sector, the value of permits was up a lesser 6.1 per cent in September, hitting $4.4 billion, with the most gains posted in Ontario, Quebec and British Columbia.
Construction intentions were up in 17 of the 34 metropolitan areas looked at by Statistics Canada, with Toronto seeing the largest increases, followed by Ottawa and Montreal.
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