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Commercial permits see strongest growth in a year: StatCan

Month over month, the total value of building permits in Canada rose 13.5% in January to $10.8 billion, rebounding after a decrease of 11.5% in December. The residential sector increased 12.6% to $6.5 billion in January, while the non-residential sector grew 14.8% to $4.2 billion. On a constant dollar basis (2017=100), the total value of building permits was up 14.0% to $6.7 billion in January.

Commercial projects in Quebec sparked non-residential growth. The total monthly value of non-residential permits increased 14.8% to $4.2 billion in January, following a 4.0% decline in December. The growth was attributed to the commercial component, which increased 34.5% to $2.3 billion, the highest monthly level recorded since April 2023. A $200 million permit for a new data centre in Lévis, Quebec, greatly contributed to the growth observed in January 2024.