Statistics Canada reports that the value of building permits issued by municipalities across the country in November dropped by 2.4 percent to $8.1 billion. Six provinces reported declines. Ontario recorded the largest of those decreases (-5.7 percent to $3.2 billion), while growth in Quebec (+10.3 percent to $1.9 billion) offset some of this decline.

On the residential side of the ledger, the total value of permits dropped 4.0 percent to $4.7 billion. Permits for multi-family dwellings were down in all provinces except Prince Edward Island—decreasing 11.3 percent to $2.5 billion. Activity in Ontario dropped by 9.5 percent to $976 million.

Meanwhile, the total value of permits for single family dwellings offset some the decline in the multi-family sector. Totals rose 5.6 percent to $2.3 billion, led by Ontario (+$78 million to $1.0 billion) and British Columbia (+$41 million to $276 million).

The value of non-residential permits was largely unchanged across the country in November, dropping 0.1 percent to $3.3 billion. A deeper look at the data shows notable movement within the components, however.

The value of industrial permits rose 24.5 percent to $753 million. The majority of this gain was attributable to a high value permit for an organic waste management facility in Québec City.

Meanwhile, the value of institutional permits jumped 14.5 percent to $894 million, largely due to gains in Quebec (+$209 million) resulting from building intentions for healthcare and educational facilities.

A decline in commercial permits (-13.5 percent to $1.7 billion) offset the other sectoral gains.

Ontario saw a drop in its non-residential permits in November. The overall market dropped 12.5 percent to $1.2 billion. While the industrial sector saw a slight increase (+1.5 percent), the institutional (-6.2 percent) and commercial (-21.2 percent) sectors experienced larger declines.