Canadian building permits up in May

Ottawa -- The value of Canadian building permits increased 1.1. percent to $6.6 billion in May, the second consecutive monthly increase, Statistics Canada said Monday.

The total was 6.7 percent more than the monthly average for 2007 despite a substantial decline in the residential sector, the report said.

The value of residential permits continued the downward trend that began in September and fell 6.6 percent to $3.7 billion in May, StatsCan said.
The value of building permits in the non-residential sector increased by 12.8 percent year-over-year in May with gains in industrial,

institutional and commercial areas following a 27.8-percent increase in April.

New Brunswick reached an all-time high with permit values of $122 million, a 67.1-percent jump from May 2007, while British Columbia posted a 5.7-percent increase. The bulk of both province's gains were in non-residential permits, the report said.

Copyright 2008 by United Press International.