July Building Permits Decline

The total value of building permits fell three per cent to $7.8 billion in July, entirely as a result of declines in British Columbia (-34.2 per cent to $1.2 billion), Quebec (-15.1 per cent to $1.5 billion), and Newfoundland and Labrador (-19 per cent to $54 million), says Statistics Canada. The value of permits rose in every other province and territory. The total value of residential permits decreased by 6.2 per cent to $5.1 billion in July, largely because of the decline in British Columbia (-39.4 per cent). The total value of non-residential permits rose 3.3 per cent to $2.7 billion in July, despite declines in industrial and institutional permits.