Canadian Building Permits Slow in January

Canadian building permits in January fell 4% from December 2022 to $9.8 billion (CAD) and were 5% lower than the comparable month in 2022. Residential authorizations dropped 6.6% from December to $6.1 billion and decreased 10.1% from January 2022. Single-family totals reached $2.7 billion, down 2.9% from December and 21.7% from the prior year. Multi-family levels declined 8.3% from December to $3.4 billion and rose 2% from the previous year. See Statistics Canada