Non-residential leads August building permit gains

The total monthly value of building permits in Canada increased 3.4 percent in August to $11.9 billion, with strong gains in the non-residential sector offsetting modest declines in residential construction intentions, says Statistics Canada.  

The total monthly value of residential permits declined 3.7 percent to $6.8 billion in August, led by weaker multi-unit construction intentions in Ontario (-15.8 percent or -$315.6 million), Manitoba (-44.9 percent or -$90.3 million), Quebec (-7.9 percent or -$57.1 million), and Nova Scotia (-27.3 percent or -$29.9 million). 

These declines were partly offset by monthly gains in the value of single-family home permits. Across Canada, this component was up 5.5 percent to $2.9 billion in August, marking the fourth consecutive monthly increase for this component. This uptick follows a year of trending decline in construction intentions for single family homes from May 2022 to April 2023. 

The total monthly value of non-residential permits rose 14.8 percent to $5 billion in August, with gains concentrated in Ontario (+28.5 percent or +$503.8 million) and British Columbia (+45.5 percent or +$326.2 million).