August Canadian Building Permits Improve Month-over-Month

Canadian building permits in August were up 3.4% from July but declined 5.9% from the comparable period in 2022 to $11.9 billion (CAD). Residential authorizations decreased 3.7% from July and fell 18.0% from August 2022 to $6.8 billion.  Single-family totals reached $2.9 billion, up 5.5% from July but down 15.3% from last year. Multi-family levels were $3.9 billion in August, 9.5% lower than July and down 19.9% from the previous year. Non-residential permits grew 14.8% from the prior month to $5.0 billion and rose 17.9% from August 2022. See Statistics Canada