Canadian building permits decline

There was a 5.2 percent slump in the value of building permits Canadian municipalities issued in April, down to $6.5 billion, Statistics Canada reported. The decline in intentions followed two consecutive months of increases and the total was dragged down mostly by lower activity in Ontario, the report said. Ontario's declines were largely in permits for institutional buildings and multi-family dwellings, the agency said. However, on a national level, industrial construction intentions rebounded 34.7 percent to $554 million, following a 42.4 percent decline in March. "April's [industrial] gain came from eight provinces, led by Quebec," StatsCan said. "The increase was the result of higher construction intentions … for transportation buildings and manufacturing plants." As for all types of new residential housing, municipalities approved the construction of 16,484 new dwellings, down 7.3 percent from March.