Economy
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/media/k2/items/src/e1f5b3c90a48a0f6c33fb5af41763557.jpg)
Canadian Building Permits Fall in November
Written by Sandy Williams
January 9, 2014
Canadian building permits declined in November to 18,173, falling 3.6 percent from October. The value of permits issued dropped 6.7 percent to $6.8 billion after gaining 8 percent the previous month. Permit values have been an upward trend with eight monthly increases in 2013.
In the residential sector, the total value of permits declined 7.6 percent to $4.1 billion in November. Permit values for multi-family dwellings fell 8.7 percent in November to $1.9 billion after posting two months of gains. Single-family dwelling permits fell 6.7 percent to $2.2 billion. A total of 18,173 residential housing permits were issued in November with multi-family falling 3.9 percent to 12,027 units and single-family dwellings down 3.1 percent to 6,146 units. Year-over-year, residential permits dropped 5.7 percent for single family units but rose 23.4 percent for multi-family units.
In the non-residential sector building permits dropped for institutional and industrial buildings, with total permit value in the sector falling 5.2 percent to $2.7 billion after rising 9.7 percent in October. Institutional permit values dropped 32 percent to $354 million. Value of industrial permits fell for the fourth consecutive month, edging down 2.2 percent to $455 million. Commercial building permit values rose a slight 1.8 percent to $1.9 billion after surging 25 percent in October.
The total value of permits dropped in 22 of 34 of the metropolitan areas covered by Statistics Canada.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2023/04/sandy-williams.jpeg)
Sandy Williams
Read more from Sandy WilliamsLatest in Economy
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/construction.png)
US construction spending slips in July
Construction spending in the US in July was slightly lower than June. Despite the decline, it increased notably year on year (y/y).
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2023/07/FedRes.png)
Beige Book: Economic growth hit by tighter consumer spending
Growth in the US economy continues to struggle in most districts. The Federal Reserve’s Beige Book report for August shows two-thirds of reporting districts flat or declining economic activity.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/economy.jpg)
Steel Summit 2024: Dr. Basu predicts near-term weakness in US economy
“The US economy, despite some near-term weakness I suggest in early 2025, is going to be strong," Dr. Anirban Basu said this week.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/2023_News_Img/7.Jul-23/Chicago-skyline-summer-2022v2.jpg)
Chicago Business Barometer ticked up in August, remains low
The Chicago Business Barometer edged up in August but remains in contraction territory, according to the latest release from Market News International (MNI) and the Institute for Supply Management (ISM).
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/construction2.png)
ABI remains soft despite July gains
The July AIA ABI score has recovered nearly six points over the last two months following the near four-year low recorded in May