Canada building permits
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.