Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

The value of building permits issued by Canadian municipalities fell by 17.1pc to C$6bn ($4.3bn) in April compared to the previous month. The decrease in April was the largest decline since a similar drop in October 2008. 


When combined with the March decline, the value of building permits has fallen by 28.1pc from February levels. Declines were reported in eight provinces, with the largest in Quebec by 34.1pc and Ontario by 20pc. 


The total value of residential permits was down in nine provinces in April, falling by 14.2pc to C$3.9bn compared to March. Multi-family building intentions were the only component to show an increase nationally in April, up by 4.8pc to C$2.6bn.


The value of commercial permits was down by 21.5pc to C$1.2bn in April compared to March with the largest decline of 56.6pc reported in Quebec, setting a record month-over-month percentage decrease for the province. Industrial permits declined by 34.7pc to C$377mn following gains in March, with declines posted in six provinces.


Major projects decreased by 10.5pc to $533mn compared to March. Projects in the form of schools and nursing homes helped drive gains for institutional permits in six provinces but failed to outweigh sharp declines of 46.2pc in Ontario and 28.2pc in Quebec.



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