Building permits jump in October

OTTAWA ― Municipalities issued $7.7 billion worth of building permits in October, up 9.1% from a month earlier, according to the latest StatCan data. This was the first increase in three months. Higher construction intentions for multi-family dwellings and institutional buildings in Alberta were responsible for much of the gain, as builders filed permits in advance of the changes in the Building Code. The value of residential building permits rose 15.5% from September to $4.8 billion in October. The advance followed an 11.4% drop in September and a 5.4% decline in August. Increases were posted in five provinces, led by Alberta, followed by Ontario and British Columbia. The largest declines were reported in Manitoba and Quebec. Construction intentions for non-residential buildings edged down 0.2% to $2.9 billion in October. Declines were registered in five provinces, with Saskatchewan and Ontario posting the largest decreases. Alberta posted the largest gain, followed by Quebec, a distant second.