Economy

Canadian Housing Permits Fall, Nonresidential Climbs in December
Written by Sandy Williams
February 6, 2014
Residential building permit authorizations in Canada for December declined for the second month, falling 14.2 percent to a seasonally adjusted annual rate of 186,780 units from 216,608 units in November. According to data released by Statistics Canada, multi-family dwelling authorizations led the decline, dropping 21.3 percent while single family dwellings inched down 0.1 percent.
Value of residential permits dropped 9.3 percent to $3.7 million from $4.08 million (Canadian) in November. Residential permit value for 2013 totaled $48.3 billion, almost unchanged from 2012.
Nonresidential permit values rose 3.7 percent to $2.8 million in December after falling 4.6 percent in November. Nonresidential permit value for 2013 was relatively unchanged from 2012 at $32.5 billion.
Institutional construction saw a leap in permit value, more than doubling to $939 million in December after falling 32.8 percent in November. Institutional construction increased in five provinces with educational and medical facilities leading the surge.
Industrial permit values rose 34.9 percent to $576 million due to manufacturing plant construction intentions in Manitoba and Quebec.
Commercial building permit values dropped for the fourth month in a row, down 33.5 percent in December from November. (Source: Statistics Canada)

Sandy Williams
Read more from Sandy WilliamsLatest in Economy

Steel Summit: Dr. Basu blames tariffs for riskier path ahead
Steel executives packed the main conference hall of the 2025 SMU Steel Summit on Tuesday, Aug. 26, to hear economist Dr. Anirban Basu lay out his blunt view of tariffs, inflation, and demand.

Steel Summit: Schneider sees SDI ‘on the edge of a very good run’
Steel Dynamics Inc. (SDI) President and Chief Operating Officer, Barry Schneider, remains bullish about the Fort Wayne, Ind.-based steelmaker’s position in the current market.

US housing starts gain momentum in July
US housing starts rose in July both month-on-month and year-on-year, according to figures from the US Census Bureau.

Manufacturing in New York state improves again in August
Business activity in New York state improved modestly in August. It was just the second positive reading for the general business conditions index in six months.

President Trump intends to set additional steel tariffs
While boarding Airforce One on Friday, US President Donald Trump stated that he would be setting more steel tariffs and putting ~100% tariffs on semiconductors and chips.