BUSINESS
09/08/2011 08:43 EDT | Updated 11/08/2011 05:12 EST

Canada Building Permits Match All-Time Record In July

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OTTAWA - The value of building permits rose 6.3 per cent to $7.0 billion in July, matching the record high set in May 2007.

Statistics Canada attributes the increase mainly to a rise in multi-family dwelling permits in Ontario.

It was the third straight monthly increase in permits, which rose in six provinces, led by Ontario.

StatsCan reports the largest decline was in Quebec, where building intentions fell in the non-residential sector following gains the previous three months.

In the residential sector, the value of permits nationally increased 14.6 per cent to $4.3 billion, the third straight monthly gain and the highest level since December 2005.

After two consecutive monthly increases, permits in the non-residential sector fell 4.5 per cent to $2.7 billion.

Declines in Quebec and Manitoba were partially offset by advances in the eight other provinces.