Canadian building permits down in February, Ontario sees sharpest declines

The value of building permits across Canada slid 0.5 per cent from January to February to hit $5.7 billion, with Ontario seeing the sharpest decline, according to Statistics Canada.

Nationally, the total marks a 56.7 per cent increase over the same period the previous year. Six provinces saw increases month-to-month, with Quebec and Alberta seeing the largest gains.

Provinces which saw a decline include Nova Scotia, British Columbia, Manitoba and Ontario, with the latter seeing declines in building projects for educational institutions and a 52.5 per cent drop in the value of multiple dwellings.

Following three consecutive months of declines, the non-residential sector saw a 16 per cent advance with municipalities issuing $2 billion worth of permits, with commercial buildings seeing the largest gain.