Canada building permits for March rise 11.3% versus -2.9% expected

Canada Building Permits for March 2023:

• Prior month 8.6% revised to 5.5%
• Total value increased 11.3% to $11.8 billion.
• Non-residential growth led the increase, rising 32.0% to a record-high $5.2 billion. 10 individual non-residential projects valued at over $100 million each.
• Largest project: $570 million General Motors and POSCO Chemical cathode active materials facility in Bécancour, Quebec.
• Commercial (+41.5%) and institutional (+29.5%) construction intentions posted significant monthly gains.
• Residential construction intentions declined by 0.9% to $6.6 billion.
• 21,400 new dwelling permits were issued in March.
• British Columbia and the four Atlantic provinces saw growth in residential permit values.
• Ontario and Saskatchewan experienced declines in residential permit values.
• First quarter of 2023 total value increased by 4.8% to $32.4 billion, led by non-residential building permits.
• Commercial component (+17.2%) led quarterly growth.
• Residential construction intentions declined 1.6% to $19.4 billion for the third consecutive quarter.

The numbers can be volatile. There seemed to be a number of big projects which skewed the data.

\Inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term