Building permits up 56% from recession low

Building permits were worth $5.7 billionin February, a slight 0.5 per cent less than in the previous month but 56.7 per cent abovetheir lowest point during the recession in February of 2009.

Statistics Canada reported Wednesday that increases in permits for commercial buildings and single-familyhomes compared with January wereoffset by a significant decline inmultiple-unit construction plans.

A52.5 per centmonth-over-month drop in the value of multiple dwellings in Ontario was largely responsible for the decrease at the national level, the data agency said.

Municipalities approved the construction of 16,107 new dwellings in February, down 14.2 per cent from the previous month. The decrease was largely attributable to multi-family dwellings, which fell 27.1 per cent to 6,962 units.

The value of building permits was up in six provinces, with Quebec and Alberta leading the way

Outside the residential sector, municipalities issued permits worth $2 billion, a 16 per centadvance following three consecutive months of declines.