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Started by abc
Thu, 06 Aug 2009 20:36
Building permits rise in June
Author: abc
Date: Thu, 06 Aug 2009 20:36
Date: Thu, 06 Aug 2009 20:36
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4283 bytes
Building permits rise in June August 6, 2009 Construction on the Le Germain boutique-hotel in downtown Calgary. Building permits rose in June. Construction on the Le Germain boutique-hotel in downtown Calgary. Building permits rose in June. Photograph by: Todd Korol/Reuters, Reuters OTTAWA -- Building permits were up unexpectedly in June, rising 1% to $5.2-billion, Statistics Canada said Thursday. �The increase was attributable to gains in both residential and non- residential construction intentions,� the federal agency said. Economists had expected permits to decline by about 3% in June. The May increase in permit values was revised to 17.5% from the agency�s previous estimate of 14.8%. Statistics Canada said gains were recorded in seven provinces, with some of the biggest increases coming in British Columbia (up 30.3%) and Quebec (up 11%), where permits were issued across all sectors. The biggest declines were in Saskatchewan (down 29.3%) and Alberta (down 24%), mainly due to weaker non-residential intentions. Among major centres, the biggest gains came in Montreal (up 36.9%) and Hamilton (up 289.3%). The value of permits declined in Calgary by 33%. �Since the beginning of 2009, the value of permits has fallen by 26.2% compared with the same period a year earlier,� the agency said. �The institutional component of the non-residential sector was the only component that posted a gain compared with the first six months of 2008.� The value of residential permits rose 0.5% to $2.7-billion in June -- the fourth straight monthly increase in the sector -- led by Quebec. Non-residential sector permits increased 1.5% to $2.5-billion during the month. Charmaine Buskas, senior economics strategist at TD Securities, said the �the continued strength of the building permit data bodes well for the Canadian construction market.� �It is clear that domestic considerations will remain a key driver for the economy, as the external sector remains under pressure,� she said. Canwest News Service TABLE 1 -- Value of building permits by province (% change June from May): Newfoundland and Labrador +13.6 Residential +12.1 Non-residential +21.3 Prince Edward Island -17.9 Residential -17.4 Non-residential -18.8 Nova Scotia +3.1 Residential -1.9 Non-residential +7.9 New Brunswick +26.6 Residential +6.5 Non-residential +65.1 Quebec +11.0 Residential +12.3 Non-residential +8.8 Ontario +4.3 Residential -12.0 Non-residential +29.1 Manitoba +18.6 Residential -11.7 Non-residential + 73.3 Saskatchewan -29.3 Residential -13.3 Non-residential -37.7 Alberta -24.0 Residential +10.9 Non-residential -38.6 British Columbia +30.3 Residential +13.7 Non-residential +49.7 TABLE 2 -- Value of building permits by city (% change June from May): St. John��s, N.L. +11.0 Halifax -18.5 Saint John, N.B. +31.5 Quebec City -8.0 Montreal +36.9 Gatineau -22.4 Ottawa -7.6 Toronto +1.2 Hamilton +289.3 Windsor -62.2 Winnipeg +11.1 Regina -13.9 Saskatoon -10.9 Calgary -33.0 Edmonton -2.4 Vancouver -1.1 Victoria -9.9 Source:Statistics Canada
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