The total monthly value of building permits in Canada increased 3.4 percent in August to $11.9 billion, StatCan reports. The value of residential permits declined 3.7 percent to $6.8 billion, largely due to weaker multi-unit construction intentions in Ontario, Quebec, Manitoba, and Nova Scotia.
These declines were partly offset by monthly gains in the value of single-family home permits. Across Canada, this component was up 5.5 percent to $2.9 billion in August, marking the fourth consecutive monthly increase for this component.
