November building permits drop

Canadian building permits fell 4.6 per cent in November from the previous month, Statistics Canada reported Monday.

Building contractors took out $5.9 billion in permits, still 23.1 per cent higher than a year earlier and 62.8 per cent above the recession low point of February 2009.

But the November permits total was still lower than those in 2007 and early 2008.

Declines in building in the non-residential sector including offices and industrial buildings outweighed increases in apartments and houses, which rose 9.1 per cent and began to approach their pre-recession levels.

Ontario and British Columbia led in residential permits.

Municipalities issued $2.1 billion worth of non-residential permits in November, down 21.9 per cent from October, mainly due to declines in Alberta, Saskatchewan and Quebec.

The total value of building intentions fell in Alberta, Saskatchewan, Quebec and Prince Edward Island.