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Building permits down in June

Building permits down in June

Posted on: 8/12/2019 | Author: ATB Economics

​​Alberta’s construction sector continues to struggle, another sign of a sluggish provincial economy. According to Statistics Canada, “six provinces declined, with Alberta accounting for over one-third of the national decrease.”

Adjusted for seasonal variations, the value of building permits issued by Alberta municipalities was down 12.5 per cent in June compared to May. On a year-over-year basis, the value was down 31.3 per cent.

Both residential and non-residential permits were down. The value of residential permits was off by 27.1 per cent compared to the previous June while non-residential construction fell by 36.7 per cent.

On the residential side, permits for both single dwelling units and multiple dwelling units were down. On the non-residential side, commercial projects and institutional/government construction were also down. Industrial permits were the only bright spot, posting an increase of 29.2 per cent compared to the previous June.

If the current trajectory continues over the second half of the year, the total value of building permits issued in Alberta will be 15.2 per cent lower in 2019 than it was in 2018.

Employment August 9 2019, graph​​

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