Building permits fall by 11%

Canadian municipalities issued building permits worth $6 billion in May, a 10.8 per cent decline from April's level.

Statistics Canada reported Tuesday that nationally, municipalities approved17,124new dwellings in May, down4.4 per centfrom April.

The value of residential permits fell5.3 per centto$3.7billion because of a decline in the single-family component. Municipalities issued $2.3 billion worth of permits for single-family dwellings in May, down 9.2 per centfrom April.

Following an 11.4 per centdecline in April, the value of permits for multi-family dwellings increased 2.5 per centto $1.3 billion in May.

Only three provinces saw increases: British Columbia, Saskatchewan and Prince Edward Island. The total value of permits fell in18of the34census metropolitan areas during the month.

Despite the monthly dip, the value ofpermits in May was 13.9 per centhigher than the level in May 2009.