Canadian Building Permits Rise in May

Canadian building permits in May increased 20.2% from April to $7.4 billion (CAD) but were down 13.6% from the year-ago period.  This was the largest monthly increase since March 2009. May residential authorizations rose 18.7% from the prior month to $4.8 billion but fell 6.6% below the comparable month in 2019.  Single-family totals reached $1.9 billion, soaring 37.5% from April but down 16.4% from the prior year.  Multi-family levels were 9.0% higher than April at $2.9 billion and rose 1.2% from May 2019.  See Statistics Canada