Building permits slide in March

The value of building permits in Canada decreased 11.7 percent to $10.5 billion in March compared to the previous month. Construction intentions in the residential sector decreased by 8.3 percent to $6.5 billion, led by a 13.7 percent decline in Ontario. Five other provinces, however, saw residential permits increase, including Quebec and Manitoba. Across Canada, 4,200 new single-family homes were authorized in March.