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StatsCan reports $6.8 billion in Building Permits in March


May 14, 2012
By Andrew

May 14, 2012, Ottawa, Ont. – Statistics Canada has announced another
sharp jump in the value of building permits in Canada, thanks primarily to an
increase in commercial and institutional permits in Ontario.

May 14, 2012, Ottawa, Ont. – Statistics Canada has announced another
sharp jump in the value of building permits in Canada, thanks primarily to an
increase in commercial and institutional permits in Ontario.

 

The $6.8 billion in permits represents a
4.7% increase over the previous month, which saw a 7.6% increase from January. The
increase was seen in eight provinces, led by growth in Ontario and
Newfoundland-Labrador. Only Alberta and Quebec saw a decrease in the value of
building permits from February to March.

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The sharp rise in non-residential permits
was able to offset a loss in residential permits. The value of non-residential
permits rose 13.9% in March to $2.9 billion following a 37.7% increase the
previous month. That growth came from commercial and institutional permits,
which was able to offset a decline in industrial permits. On the residential
side, the value of permits fell 1.3% to $3.9 billion, the third monthly
decrease in a row. Decreases in residential permits occurred in six Canadian
provinces, led by Ontario.

 

For a full look at the StatsCan report,
visit http://www.statcan.gc.ca/pub/64-001-x/2012003/part-partie1-eng.htm.


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