Economy

Canada Building Permits Surge in May
Written by Sandy Williams
July 7, 2014
Building permit values jumped 13.8 percent in Canada in May, totaling $6.9 billion and exceeding expectations for the month. The increase was due to higher construction intentions for commercial buildings in Ontario and Manitoba as well as multi-family dwellings in British Columbia, said Statistics Canada.
Residential permit values rose 9.5 percent to $4.1 billion. Building permits were authorized for 17,415 new dwellings, up 11.8 percent from April. Multi-family dwellings rose 17.3 percent to 11,330 units while single-family dwelling authorizations rose 2.8 percent to 6,085 units.
Nonresidential permit values were up 20.8 percent to $2.8 billion on strength of commercial construction. Commercial building permit values rose 39.4 percent to 18.1 billion. Industrial permit values were up 22.4 percent to $411 million, primarily for manufacturing plants in Quebec, Alberta and British Columbia. Institutional permit values fell 16.6 percent to $555 million after increasing 37.5 percent in April.

Sandy Williams
Read more from Sandy WilliamsLatest in Economy

Supply chains, end-users brace for impact from tariffs
Supply chains are working through what the tariffs mean for them

ISM: Manufacturing expansion loses steam after two months of growth
US manufacturing activity slowed in March after two straight months of expansion, according to supply executives contributing to the Institute for Supply Management (ISM)’s latest report.

Chicago Business Barometer rose to 16-month high in March
The Chicago Business Barometer increased for the third-consecutive month in March. Despite this, it still reflects contracting business conditions, as it has since December 2023.

Durable goods orders rise again in February
Transportation equipment led the increase, rising 1.5% to $98.3 billion.

Consumer confidence falls for fourth consecutive month
People remain concerned about inflation, trade policies, and tariffs.