Building permits down in February

OTTAWA ― Canadian municipalities issued $7.8 billion worth of building permits in February, StatCan reports, down 5.7% from the previous month. The decline was largely due to lower construction intentions for multi-family dwellings. Residential permits declined 8.5% to $4.9 billion, the lowest level since April 2017. The decrease was largely the result of lower construction intentions for multi-family dwellings in Ontario and British Columbia.