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- Canada’s building permits climb 8.2 percent in January
Canada’s building permits climb 8.2 percent in January
Statistics
Canada announced on Wednesday that the value of building permits issued by the
Canadian municipalities climbed 8.2 percent m-o-m in January 2021, following a
revised 4.4 percent m-o-m drop in December 2020 (originally a decline of 4.1
percent m-o-m).
Economists had
forecast a 3.5 percent increase in January from the previous month.
According to
the report, the value of residential permits surged 10.6 percent m-o-m in January,
as single-family permits jumped 15.1 percent m-o-m, while permits for
multi-family dwellings rose 6.5 percent m-o-m.
At the same
time, the value of non-residential building permits increased 2.6 percent m-o-m
in January, due to gains in industrial (+31.7 percent m-o-m) and commercial (+3.3
percent m-o-m) permits, which, however, were partially offset by a decline in institutional
permits (-11.8 percent m-o-m).
In y-o-y terms,
building permits rose 6.4 percent in January.
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