Building permits up 56% from recession low
Last Updated: Wednesday, April 7, 2010 | 9:25 AM ET
CBC News
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Building permits were worth $5.7 billion in February, a slight 0.5 per cent less than in the previous month but 56.7 per cent above their lowest point during the recession in February of 2009.
Statistics Canada reported Wednesday that increases in permits for commercial buildings and single-family homes compared with January were offset by a significant decline in multiple-unit construction plans.
A 52.5 per cent month-over-month drop in the value of multiple dwellings in Ontario was largely responsible for the decrease at the national level, the data agency said.
Municipalities approved the construction of 16,107 new dwellings in February, down 14.2 per cent from the previous month. The decrease was largely attributable to multi-family dwellings, which fell 27.1 per cent to 6,962 units.
The value of building permits was up in six provinces, with Quebec and Alberta leading the way
Outside the residential sector, municipalities issued permits worth $2 billion, a 16 per cent advance following three consecutive months of declines.
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