Non-residential building permits surge
The value of non-residential building intentions soared 34.4 per cent in October, following a 4.4 per cent increase the month before. The latest building permits report from StatsCan show that advance was the result of higher construction intentions for medical facilities in British Columbia as well as nursing homes and retirement residences in several provinces. Commercial property fared less well with intentions for offices, retail and leisure facilities all lower leading to the value of permits falling 8.1 per cent in October, following a 6.2 per cent advance the previous month. This was the lowest level since April of this year.