Canada building permits for May 2019
- Canada building permits for me -13.0% versus -10.0% estimate
- prior revised higher to 16.0% versus 14.7% previously released
- The decline is the largest since August 2014 but comes after an oversized gain last month.
- non-residential-5.7%. industrial permits -37.5%. Commercial permits -0.9%. Institutional purpose +25.7%
- housing permits -17.2%. single families units up 1.8%. Multiple family units -28.5%
- the value of building permits down -1.9% YoY in May
- Toronto permits +6.6%
- Vancouver permits -55.6%
- Montréal permits +11.6%
In April the gains were oversized at 16.0%. In May, most of those gains were given back, with big swings in provinces. The multi family units also can be quite volatile and were down -28.5% this month.
