Canada's building permits jump 9.3% in February

By Ovunc Kutlu

ISTANBUL (AA) - Building permits in Canada jumped 9.3% in February to $11.8 billion, according to the country's statistical authority on Wednesday.

The expectation for the figure was to show a 4.3% decline. The figure showed a massive 12.9% increase in January.

Building permits had plummeted 18.8% last April to their lowest since December 2020.

"The total monthly value of non-residential permits increased 12.3% to $4.7 billion in February," Statistics Canada said in a statement. "The total monthly value of residential permits increased 7.4% to $7.1 billion in February."

Across Canada, 16,400 new dwellings in multi-unit buildings and 4,600 new single-family dwellings were authorized in February, while 253,400 new units were authorized from March 2023 to February 2024, according to the agency.