Canadian Building Permits Decrease in October

Canadian building permits in October dipped 1.4% from September to $10 billion (CAD) and were 6.3% lower than the year-ago period. Residential authorizations fell 6.4% from September to $6.5 billion and dropped 8.7% from October 2021. Single-family totals reached $2.9 billion, down 5.8% from September and 13.3% lower than the prior year. Multi-family levels shrank 6.9% from September to $3.6 billion and declined 4.6% from the previous year. See Statistics Canada