February building permits slip after gains

OTTAWA — Canadian municipalities issued $8.2 billion in building permits in February, StatCan reports, a decline of 2.6% following a 5.2% gain in January. Single-family homes as well as the commercial and institutional components saw lower levels of construction intentions in February. The value of permits for single-family dwellings decreased by 1.6% or $41.3 million, largely due to Ontario where intentions fell 6.9% compared with January. The census metropolitan areas of Toronto and Oshawa posted the largest declines.