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- Canada’s building permits surge 17.0 percent in September
Canada’s building permits surge 17.0 percent in September
Statistics Canada announced on Thursday that the value of building permits issued by the Canadian municipalities climbed 17.0 percent m-o-m in September, following a revised 1.4 percent m-o-m advance in August (originally a gain of 1.7 percent m-o-m). This was the largest gain in the value of building permits since March 2009.
According to
the report, the value of residential permits rose 6.9 percent m-o-m in September,
as single-family permits jumped by 8.9 percent m-o-m, while permits for
multi-family dwellings increased by 5.2 percent m-o-m.
At the same
time, the value of non-residential building permits surged 40.6 percent m-o-m
in September, due to climbs in industrial (+49.1 percent m-o-m), commercial (+42.3
percent m-o-m) and institutional (+30.2 percent m-o-m) permits.
In y-o-y terms,
building permits increased 10.6 percent in September.
In the third
quarter of 2020, the value of building permits jumped 16.5 percent, almost
returning to levels seen in the fourth quarter of 2019. This was the largest
gain since the fourth quarter of 2009 when the economy was recovering from the
2008 financial crisis.
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