FX.co ★ Canada Building Permits Unexpectedly Rise

In February 2025, the total value of building permits issued in Canada increased by 2.9% from the previous month, reaching $13.1 billion. This rise follows a revised 4.3% decline in the preceding month and surpasses expectations for a 0.5% decrease. The non-residential construction sector saw a significant uptick, with permits climbing 15.3% to $4.7 billion. This improvement marked a rebound after four consecutive months of decline, driven by increases in the commercial ($481.8 million), industrial ($86.2 million), and institutional ($50.7 million) sectors. Conversely, residential permits experienced a downturn, falling 2.9% to $8.4 billion, continuing the downward trend from the previous month's $8.8 billion decline. This reduction was due to decreases in both multifamily and single-family permits. Permit issuance dropped in six provinces, with Yukon experiencing the largest decline at -72.7%, while Nunavut saw the most substantial growth at 932.1%.