Construction intentions down in December
Residential permit value was almost 11% lower than the month before
By Rob Roach, ATB Economics 6 February 2023 less than a minute
Despite an increase in the value of commercial permits, overall construction intentions in Alberta edged down to end the year.
The seasonally adjusted value of building permits issued by Alberta municipalities* was 2.9% lower in December than in November.
Residential intentions were down by 10.7% while a large increase in the value of commercial permits in Calgary pushed up the non-residential category by 16.8%.
Total permit value was up in the Calgary area by 10.7%, but lower in Edmonton (-26.4%), Lethbridge (-28.0%), and Red Deer (-19.4%).
Nationally, permit value fell by 7.3% in December with residential permits down by 8.4% and non-residential down by 5.3%.
*Statistics Canada’s Building Permits Survey covers all Canadian municipalities that issue permits.
Answer to the previous trivia question: In December 1995, the House of Commons officially recognized February as Black History Month in Canada. The Senate did the same in 2008.
Today’s trivia question: Which Super Bowl had the smallest crowd?