BUSINESS

Canada January Building Permits Drop 12.3 Per Cent; All Sectors Down

03/07/2012 08:45 EST | Updated 05/07/2012 05:12 EDT
AP
OTTAWA - Statistics Canada says the value of building permits issued fell 12.3 per cent to $6 billion in January, after a 10.5 per cent rise in December.

The agency says there were declines in both the residential and non-residential sectors in January.

Contractors took out $4.2 billion worth of permits in the residential sector, down 6.6 per cent after three consecutive monthly gains.

The decrease was largely the result of lower construction intentions for multi-family dwellings in Ontario.

In the non-residential sector, municipalities issued permits worth $1.8 billion, down 23.1 per cent after a 0.3 per cent increase in December.

Construction plans slipped in six provinces, with Alberta accounting for most of the decrease.

The value of building permits for multi-family dwellings decreased 12.4 per to $1.7 billion in January, following a 30.8 per cent rise in December.

There were declines in six provinces, with Ontario leading the decline.

Municipalities issued $2.5 billion worth of permits for single-family dwellings in January, down 2.2 per cent from December, following three consecutive monthly gains.

Lower construction intentions in Quebec, British Columbia and Alberta more than offset advances in the seven other provinces.

All three components of the non-residential sector showed declines.

In the commercial sector, the value of permits declined 22.5 per cent to $1.2 billion, after a 34.6 per cent rise in December.

In the institutional component, the value of permits fell 27.9 per cent to $309 million. This marked a third consecutive monthly decline and was the lowest level since January 2005.

Industrial building intentions declined for a third consecutive month, falling 20.1 per cent to $274 million.

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