April Canadian Building Permits Drop

Canadian building permits in April fell 18.8% from March and 19.6% from the comparable period in 2022 to $9.6 billion (CAD), the slowest month since December 2020. Residential authorizations decreased 6.1% from March and 22.4% from April 2022 to $6.1 billion. Single-family totals reached $2.45 billion, down 3.7% from March and plunging 30.6% from the prior year. Multi-family levels dropped 7.6% from March to $3.7 billion and declined 15.7% from the previous year. See Statistics Canada