Steel Markets
October 6, 2014
Canada Construction Ends 3 Month Growth Spurt
Written by Sandy Williams
Building permit values in Canada fell by 27.3 percent to $6.7 billion in August with declines across the board in residential and nonresidential construction following 3 months of double digit gains, according to data published by Statistics Canada.
The Royal Bank of Canada had forecast a decline of 6.5 percent from July’s record of $9.15 billion; Bank of Montreal came closer with a forecast of -20 percent. The losses were led by fewer construction intentions for nonresidential buildings in Quebec and residential buildings in Ontario.
