January 9, 2009

Canadian building permits fall in month

The value of Canadian building permits issued in November dropped 11.8 percent from the previous month, the government said Friday.

The decline to $4.8 billion in permits issues was 22.6 percent below the monthly average for 2008, Statistics Canada reported.

The value of non-residential permits issued fell 15.2 percent to $2.1 billion, led by declines in Quebec, Ontario and British Columbia, the report said.

Permit values in the three components making up non-residential construction -- commercial, institutional and industrial -- all declined for the second consecutive month.

Residential permits declined 9 percent to $2.7 billion, the lowest monthly level since January 2005.