Residential permits up in September

The value of building permits issued in Canada decreased 6.5 percent in September to $11.2 billion, StatCan reports. Most of the drop was attributed to a monthly decline in the institutional sector. The value of residential permits increased 4.3 percent to $7.2 billion, led by a 37.2 percent increase in construction intentions in British Columbia. Gains in the value of residential permits in Quebec, Nova Scotia, Prince Edward Island, and Newfoundland and Labrador offset declines in the remaining five provinces.