The total value of building permits remained at historically high levels in April, edging down 0.5 per cent to $11.1 billion, following the record set in March, according to Statistics Canada.
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Investment in building construction plunged 45.9 per cent to $8.4 billion in April compared with the previous month, according to Statistics Canada. Previously, the largest national decline on record for the current series (which dates back to 2010) was a 3.9 per cent decrease in August 2017.
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Canadian municipalities issued $8.3 billion worth of building permits in November 2018, up 2.6 per cent from October. According to a Statistics Canada report, higher construction intentions for commercial buildings drove most of the gain.
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In March, the number of building permits in Canada recently saw its largest jump in the past six months, according to Statistics Canada. Its report states the increase in construction intentions for multi-family units in Ontario and the number of permits for non-residential buildings in British Columbia and Alberta were the main contributors to the overall growth.
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