The value of building permits rose for a second straight month, up 3.5% to $8.2 billion in October. All building components increased with the exception of the institutional component, which declined 14.3%, offsetting much of the gain from the previous month.
The value of permits for non-residential buildings increased $171.7 million to $3.3 billion in October, the second consecutive monthly gain.
The commercial component, which refers to buildings used in the trade or distribution of goods and services, was the main contributor to the 5.5% increase in the non-residential sector. Permits in Quebec for warehouses, as well as permits in Ontario for office buildings, warehouses, and recreation buildings, contributed to the rise in the value of commercial building permits in October.
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