BUSINESS

StatsCan: Building Permits Increase For First Time In 3 Months

05/07/2015 08:59 EDT | Updated 05/07/2016 05:59 EDT
OTTAWA - Statistics Canada says the total value of building permits rose 11.6 per cent to $6.9 billion in March.

The agency says it was the first increase in three months.

Economists had expected an increase of 2.5 per cent, according to Thomson Reuters.

The improvement came in large part due to non-residential buildings in British Columbia and Alberta and multi-family dwellings in Ontario and British Columbia.

The value of non-residential building permits rose 22.1 per cent to $2.4 billion in March, following two consecutive monthly declines.

Meanwhile, the value of permits for multi-family dwellings rose 19.6 per cent to $2.1 billion, the second consecutive monthly gain. The value of single-family home permits fell for a second consecutive month, losing 3.4 per cent to $2.3 billion.

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