BUSINESS

Building permits up 15 per cent in October after drop in September: StatsCan

12/06/2012 08:48 EST | Updated 02/05/2013 05:12 EST
OTTAWA - Statistics Canada says the value of building permits issued by municipalities rose 15 per cent in October to $7.5 billion after a 12.7 per cent decline in September.

The agency says the value of permits for non-residential buildings rose 50.3 per cent to $3.4 billion, following a 29.4 per cent decrease in September and was concentrated mostly in Ontario and Quebec.

In the residential sector, the value of permits fell 4.1 per cent to $4.1 billion in October, the third monthly decrease in four months.

The industrial component saw the value of permits triple to $1.1 billion in October, passing the $1 billion mark for the first time.

In the commercial sector, the value of permits edged up 0.1 per cent to $1.4 billion.

The value of permits in the institutional component rose 69.6 per cent to $982 million, focused mainly in Ontario and Manitoba.