Canada Building Permits Rebound in August

The value of building permits in Canada rose 1.7 percent from a month earlier to CAD 8.1 billion in August 2020, rebounding from a downwardly revised 1.6 percent drop in the previous month. This mainly reflected an increase in the residential sector in Ontario and Quebec. The total value of residential permits increased 7.1 percent to CAD 5.6 billion, as permits issued for single family homes went up by 9.9 percent and those for multi-family dwellings advanced by 5 percent. On the other hand, non-residential permits declined 8.6 percent to CAD 2.5 billion, as a drop in commercial (-14.7 percent to CAD 1.4 billion) and institutional (-5.8 percent to CAD 0.6 billion) permits offset an increase in industrial (7.5 percent to CAD 0.5 billion).