Canadian future building construction intentions tapered as interest rates climbed, shows permit data. Statistics Canada (Stat Can) data shows the value of building permits, a leading indicator, made a small dive in March. Future building plans remain elevated compared to pre-2020. However, residential plans slowed as expected after record building activity.

Canadian Building Permit Values Fell 9% In March

Canadian building permits took a dip in the latest numbers. The value of building permits reached $11.7 billion in March, down 9.3% from a month before. While down, future building intentions remain 5.2% higher than last year — at least in dollar terms. The non-residential sector was behind the monthly drop. Annual growth was slowed by reduced plans for residential building.

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