Hey there, time traveller!
This article was published 7/5/2014 (729 days ago), so information in it may no longer be current.
Construction activity in the province should pick up a little over the next few months, according to building-permit data released today.
Statistics Canada said local contractors took out $143.3 million worth of permits in March, which was a 1.7 per cent increase from February’s total of $141 million.
Because contractors usually must obtain a building permit before construction work can begin, an increase in permit numbers usually means a pending increase in construction activity.
March’s increase was concentrated on the residential side of the construction industry, where permit values rose by three per cent to $101.6 million from $98.6 million in February.
The value of non-residential permits declined by 1.5 per cent to $41.8 million from $42.4 million.
Although March’s overall total was an improvement from the previous month, it was still down 4.6 per cent from March of last year, when $150.2 million worth of permits were issued.
Nationally, the value of permits declined by three per cent from February to March — $6.0 billion versus $6.2 billion — and was down 5.5 per cent from a year earlier, Statistics Canada said.
The monthly decline at the national level was due to lower construction intentions in the non-residential sector in six provinces, the agency added.