Canadian Building Permits Weaken in March

Canadian building permits in March were down 11.7% from February to $10.5 billion (CAD) and decreased 15.2% from the comparable period in 2023. Residential authorizations declined 8.3% from February and 5.8% from March 2023 to $6.5 billion. Single-family totals were $2.6 billion, falling 7.4% from February and 3.4% from March 2023. Multi-family levels reached $4.0 billion in March, shrinking 9.0% from February and 7.4% from the previous year. Non-residential permits dropped 16.7% from the prior month and 27.1% from March 2023 to $4.0 billion. See Statistics Canada