Non-residential construction intentions higher in August
The value of seasonally adjusted non-residential building permits in Alberta had a strong month, rising by 49.5% ($124 million)
By Rob Roach, ATB Economics 4 October 2021 1 min read
After falling by 23.4% ($310 million) in July, the seasonally adjusted value of building permits issued by Alberta municipalities* rose by 7.0% ($71 million) in August.
Although not spectacular, construction intentions in August were higher than 12 months earlier by 16.8% ($156 million).
Residential permits were down for the second month in a row, falling by 7.0% ($53 million) in August. The pullback was entirely due to lower multiple dwelling permits, which contracted by 17.2% ($56 million).
Non-residential building permits, on the other hand, had a strong month, rising by 49.5% ($124 million). Industrial building permits were up by 116.0% ($28 million), commercial by 30.1% ($55 million) and institutional/governmental by 93.2% ($41 million).
The provincial numbers mask some important differences between Calgary and Edmonton. In Calgary, permit value was up by 10.1% ($44 million) in August, but down by 13.1% ($53 million) in Edmonton. Both single dwelling and multiple dwelling permits were lower in Edmonton while only multiple dwelling permits were down in Calgary.
Nationally, permit value fell by 2.1% ($212 million) in August with the drop concentrated in the multiple dwelling category, which was down by 15.9% ($610 million).
*Statistics Canada’s Building Permits Survey covers all Canadian municipalities that issue permits.
Answer to the previous trivia question: Alberta’s population passed the one million mark in 1953.
Today’s trivia question: When and where was the first Oktoberfest held?