Statistics Canada says the value of building permits issue in March slips

OTTAWA – Statistics Canada says the value of building permits issued by municipalities in March fell seven per cent to $6.9 billion due to a drop in the non-residential sector.

The decline followed a 15.3 per cent gain in February.

The value of building permits issued in the non-residential sector fell 22.8 per cent to $2.4 billion in March, following a 32.6 per cent increase the previous month.

Statistics Canada says all three components of the non-residential sector fell, led by commercial buildings.

The value of permits for commercial buildings dropped 27.7 per cent to $1.5 billion, while permits for institutional buildings slid 12.2 per cent to $591 million.

The value of industrial building permits fell 17.1% per cent to $395 million.

Meanwhile, the value of residential permits rose 4.8 per cent to $4.4 billion in March, with gains in seven provinces, led by Ontario, British Columbia and Nova Scotia.