After reaching a record high in March, non-residential construction intentions slowed in April, bringing the total value of building permits issued across Canada to their lowest level in over two years. StatCan_eng | realestate realestatenews Canada
12:53 PM Jun 7, 2023
The commercial component led the decline, with construction intentions falling 40.2%, or $1.1B. The industrial sector followed, with permit values declining 49.6%, or $663.8M, on a monthly basis. The multi-family component experienced the most significant drop, with the value of permits falling 7.6% to $3.6B. Construction intentions in the single-family sector slowed 3.6% month over month to $2.4B.
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