BUSINESS

Value of building permits issued up 1.7 per cent in February: StatsCan

04/09/2013 08:50 EDT | Updated 06/09/2013 05:12 EDT
OTTAWA - Statistics Canada says municipalities issued building permits worth $6 billion in February, up 1.7 per cent from January.

The agency says higher construction intentions in the non-residential sector in eight provinces more than offset a decline in the residential sector.

Despite the February advance, the total value of building permits has been trending downwards since late 2012.

Permits for residential construction fell 7.2 per cent to $3.6 billion.

The value of permits in the non-residential sector increased 18.9 per cent to $2.4 billion, with increases in every province except New Brunswick and Nova Scotia.

All three segments of the non-industrial sector — commercial, institutional and industrial — recorded increases.