Building permits up in May; hits highest level in five years: StatsCan

OTTAWA – Statistics Canada says municipalities issued $7 billion worth of building permits in May, up 7.4 per cent from April and the highest level since May 2007.

The jump followed a 4.4 per cent decline in April.

The agency says the increase was largely due to higher construction intentions for institutional buildings in Alberta, British Columbia and Saskatchewan and for multi-family dwellings in British Columbia.

The value of residential building permits increased 8.5 per cent to $4.1 billion, following four consecutive monthly declines.

Non-residential construction intentions rose six per cent to $2.9 billion after a seven per cent decline the previous month.

The value of building permits increased in seven provinces in May, led by British Columbia, Saskatchewan and Alberta.