BUSINESS

Value of Canadian building permits issued in January falls: Statistics Canada

03/06/2015 08:50 EST | Updated 05/06/2015 05:59 EDT
OTTAWA - Statistics Canada says the total value of building permits issued fell 12.9 per cent to $6.1 billion January.

That was weaker than the drop of 4.3 per cent expected by economists, according to estimates compiled by Thomson Reuters.

The federal agency says lower construction intentions for non-residential buildings in Alberta, British Columbia and Ontario were responsible for much of the national decline.

Building permits for non-residential construction totalled $2.0 billion in January, down 22.8 per cent from the previous month.

In the residential sector, the value of permits for multi-family dwellings fell 21.0 per cent to $1.5 billion in January — the fourth consecutive monthly decline.

Residential construction plans fell in eight provinces in January, with Alberta, British Columbia and Ontario registering the largest declines.

Note to readers: This is a corrected story. An earlier version incorrectly stated the value of non-residential construction permits issued.