Canadian building permit values show dramatic drop in June

In June, the total value of Canadian building permits fell 13.9% to $9.9 billion, continuing a decline that began in May. Declines were reported in 11 of the 13 provinces and territories, affecting both the residential and non-residential sectors. The value of building permits in constant 2017 dollars fell 14.3% in June, following a 13.4% decline in May. The value of residential building permits declined 11.5% to $6.5 billion in June, contributed by 9 of the 13 provinces and territories.