Canadian Building Permits Grow in January

Canadian building permits were up 13.5% in January to $10.8 billion (CAD) from December 2023 and improved 4.8% from the comparable period in 2023. Residential authorizations increased 12.6% from December and 5.6% from January 2023 to $6.5 billion. Single-family totals were $2.6 billion, decreasing 10.3% from December and 2.5% from January 2023. Multi-family levels reached $4.0 billion in January, surging 35.1% from December and 11.7% from the previous year. Non-residential permits rose 14.8% from the prior month and 3.4% from January 2023 to $4.2 billion. See Statistics Canada