Building permits take biggest hit in almost six years

OTTAWA — The value of building permits issued by Canadian municipalities fell by 13.1 percent to $7.4 billion in March, StatCan reports, with declines reported in seven provinces and two territories. The $1.1 billion national decrease was the largest since August 2014. It reflected notable drops in Ontario (-12.9%), Quebec (-18.1%) and British Columbia (-19.4%), which coincided with efforts to slow the spread of COVID-19. The value of residential permits decreased 13.1 percent to $4.6 billion in March, including a 15.3 percent decline in single-family dwellings to $2.2 billion.