Construction of athlete housing and other related buildings for the Toronto 2015 Pan Am Games continues on the site located near Cherry St. and Front St. East.Fred Lum/The Globe and Mail
Canadian building permits rose in September, led by gains in Toronto and across all types of construction categories, government figures showed.
The value of municipal permits rose 12.7 per cent to $7.5-billion, after a 27.3-per-cent drop in August, Statistics Canada said today in Ottawa. Economists forecast a 5-per-cent gain, according to the median of 10 responses to a Bloomberg survey.
Residential permits advanced 6.1 per cent to $4.43-billion, while non-residential rose 23.9 per cent to $3.07-billion. Ontario cities led the increases, including 80.2 per cent in Toronto, 86.5 per cent in Ottawa and 98.6 per cent in Kingston. Institutional permits were the biggest contributor to Toronto's rise, the agency said. Calgary intentions dropped 26.0 per cent.
Bank of Canada Governor Stephen Poloz says the economy needs to shift to exports and business investment from debt-fueled consumer spending. The central bank last month kept its key interest rate at 1 per cent, extending the longest pause since the 1950s.