MNI DATA IMPACT: Canada Building Permits -5.7% On Multi-Family>

By Yali N'Diaye

     OTTAWA (MNI) - The following are the key points from the February 

data on Canadian building permits released Monday by Statistics Canada: 

     - The value of building permits issued by Canadian municipalities 

dropped a further 5.7% in February, following a 6.0% decrease in 

January. The value reached C$7.8 billion, the lowest level since April 

2017. 

     - The decrease was led by an 8.5% drop in the residential sector, 

the largest decline since December 2016. Weakness was concentrated in 

multi-family dwellings, where construction intentions fell 16.4%, the 

largest contraction since June 2016. Lower intentions in Ontario and 

British Columbia were largely to blame. 

     - Permits for single-family dwellings rose 4.0% in February, the 

same as in January. 

     - Non-residential permits edged down 0.5% on the month: Increases 

in the institutional (+11.6%) and industrial (+5.2%) sectors were not 

enough to offset a 6.4% decrease in commercial buildings, on the back of 

a 25.1% drop the previous month. 

     --MNI Ottawa Bureau; email: yali.ndiaye@marketnews.com 

[TOPICS: M$C$$$,MACDS$]