The total value of building permits issued in Canada during March rose 11.3% to $11.8 billion, led by a sharp increase in non-residential construction.
Statistics Canada said that the monthly value of non-residential building permits gained 32% in March to reach a record-high of $5.2 billion.
The largest construction project during the month was a new $570 million General Motors (GM) cathode active materials facility in Bécancour, Quebec.
Building permits in the commercial (up 41.5%) and institutional (up 29.5%) construction sectors also helped to support the record-high month for the non-residential sector in March.
The gains in non-residential building permits were partly offset by a slowdown in residential construction, said Statistics Canada.
March saw the value of new residential building permits decline by -0.9% to $6.6 billion. Nationally, residential building permits for 21,400 new dwellings were issued during the month.
The total value of building permits in the first quarter of 2023 increased by 4.8% from the previous quarter to $32.4 billion, ending three consecutive quarters of decline.
A building permit is an authorization that must be granted by a municipal government or other regulatory body before construction on a new or existing building can legally occur. Building permits are an indication of the construction activity taking place in an economy.
