Value of Canadian building permits drops in June

The total value of building permits in Canada fell sharply to $9.9 billion in June, a 13.9% drop from the previous month, Statistics Canada said Monday.

The total value was $11.5 billion in May and $13.2 billion in April.

In Quebec, the total value of building permits also fell by 13.9% to $2 billion between May and June. The province saw declines in both residential and non-residential permits. For the former, the total value was $1.4 billion, a drop of 4.4%. For non-residential construction, the decrease was 29.1% and the total value of these permits was $615.9 million.

In Canada, construction intentions in the residential sector fell from $7.3 billion to $6.5 billion, a decrease of 11.5%.

For the non-residential sector, the total value fell by 18.1%, from $4.24 billion to $3.5 billion.

Some 11 of Canada’s 13 provinces and territories saw a decline in the value of building permits. Values ​​increased in Nunavut and Prince Edward Island.

In the Maritimes, the total value of building permits in New Brunswick fell 24.8 per cent in June from May to $140.8 million. The decline was 12.3 per cent in Nova Scotia to $270.3 million and 4.2 per cent to $58.3 million in Newfoundland and Labrador. In Prince Edward Island, construction intentions increased 95.6 per cent to $100.5 million.

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