RTTNews - The value of Canadian building permits totaled $5.2 billion in June, up 1.0% from May, May, when permits leaped 17.5%, according to data released by Statistics Canada Thursday. The increase was attributable to gains in both residential and non-residential construction intentions.
In the non-residential sector, the value of permits rose 1.5% to $2.5 billion, following an increase of nearly 20% in May.
The value of permits increased for the fourth consecutive month in the residential sector. Construction intentions climbed 0.5% to $2.7 billion in June. Half of the provinces, led by Quebec, posted gains.
The national increase was due to advances in seven provinces. The largest gains were in British Columbia and Quebec, as a result of increases in every component of the residential sector and the non-residential sector.
Since the beginning of 2009, the value of permits has fallen by 26.2% compared with the same period a year earlier. The institutional component of the non-residential sector was the only component that posted a gain compared with the first six months of 2008.
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