Building permits up in February

OTTAWA — Municipalities issued building permits worth $7.4 billion in February, up 15.5% from January. This growth followed a 9.5% decline the previous month and was largely the result of higher construction intentions for commercial buildings in Alberta, single-family dwellings in Ontario and institutional structures in Quebec. The value of residential building permits increased 5% to $4.2 billion in February, following a 12.7% decrease the previous month. Advances were registered in five provinces, led by Ontario, with Alberta a distant second. British Columbia reported the largest decline in the residential sector. The value of permits for single-family dwellings increased 9.6% to $2.4 billion in February, ending a string of six consecutive monthly declines. Gains were reported in five provinces, led by Ontario, up 34.2% from January. Quebec, Alberta and British Columbia posted the largest decreases.