Building permits rise in May

OTTAWA — The value of permits issued by Canadian municipalities rose 4.7% to $8.2 billion in May, StatCan reports. The increase followed a 4.7% drop in April, the only month this year where municipalities reported a total value below the $8 billion mark. In the residential sector, municipalities issued $5.5 billion worth of permits in May, up 7.7% from April. This was the second-highest value on record, following the $5.7 billion worth of permits issued in October 2016. The value of non-residential permits meanwhile declined 0.7% in May to $2.7 billion.