Skip to main content

File photo of construction workers building new homes in Calgary.

TODD KOROL/REUTERS

Canadian building permits plunged from a record in August, led by lower intentions for medical buildings in Quebec and multiple-unit housing in Ontario.

The value of municipal permits fell 27.3 per cent to C$6.65-billion ($5.95-billion) from July's record C$9.15-billion, Statistics Canada said today in Ottawa. The decline exceeded all 10 predictions in a Bloomberg economist survey that had a median estimate of a 6.5 per cent decrease.

The world's 11th largest economy has shown unexpected signs of faltering in the last week, including reports of stalled output growth in July and a trade deficit in August. The Bank of Canada kept its policy interest rate at 1 per cent last month, where it's been for more than four years, citing the need for stronger growth to eliminate slack in the economy.

Story continues below advertisement

Non-residential construction permits dropped by 40.6 per cent to C$2.50-billion, falling from July's record when the total was lifted by buildings such as hospitals in Quebec.

Residential work dropped by 15.9 per cent to C$4.15-billion. Permits for multi-family dwellings fell by 28.6 per cent to C$1.81-billion following July's gain of 42.8 per cent, Statistics Canada said. Single-family permits fell for a second month, by 2.4 per cent to C$2.34-billion.

The percentage decline for August was the biggest in records dating back to 2000. The value of permits for August remained 2.4 per cent greater than in August 2013.

Report an error
Due to technical reasons, we have temporarily removed commenting from our articles. We hope to have this fixed soon. Thank you for your patience. If you are looking to give feedback on our new site, please send it along to feedback@globeandmail.com. If you want to write a letter to the editor, please forward to letters@globeandmail.com.

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff.

We aim to create a safe and valuable space for discussion and debate. That means:

  • Treat others as you wish to be treated
  • Criticize ideas, not people
  • Stay on topic
  • Avoid the use of toxic and offensive language
  • Flag bad behaviour

Comments that violate our community guidelines will be removed.

Read our community guidelines here

Discussion loading ...

Cannabis pro newsletter