Construction intentions still stronger than last year
The value of building permits in Alberta over the first 10 months of the year is the highest it’s been in five years
By Rob Roach, ATB Economics 2 December 2021 1 min read
After rising by 24% in September due to a large permit for the expansion of the Calgary International Airport’s Airside Maintenance Centre, the seasonally adjusted value of building permits issued by Alberta municipalities* fell by 21% in October.
Monthly permit value was, however, 11% higher than in October 2020 and 10% above October 2019.
Led by multiple-unit buildings, residential permits were up by 7% in October while non-residential permits plunged by 55%.
Compared to 12 months earlier, residential permit value was up by 28% while non-residential permit value was down by 20% due to a 71% drop in institutional and governmental permits.
Nationally, construction intentions were up by 1.3% compared to September with New Brunswick and British Columbia up the most at 15.6% and 15.0%, respectively.
Year-to-date permit value was above where things stood at the same point last year in every province except Newfoundland and Labrador.
*Statistics Canada’s Building Permits Survey covers all Canadian municipalities that issue permits.
Answer to the previous trivia question: According to the World Trade Organization, agricultural products accounted for 9.4% total global merchandise exports in 2019?
Today’s trivia question: Which city is home to the tallest residential tower in the world?