FX.co ★ Canada Building Permits Rise Sharply in May

The total value of building permits in Canada experienced a notable rise of 12.0% in May 2025, reaching $13.1 billion. This increase followed a revised decrease of 6.8% in April and surpassed market predictions, which anticipated a 0.8% decline. Residential building intentions increased by $169.8 million, totaling $7.5 billion, largely fueled by a significant rise in multi-family permits, which saw an uptick of $687.7 million. This surge was prominently driven by the Vancouver Census Metropolitan Area, with an increase of $696.4 million. However, permits for single-family homes decreased by $25 million, with the most significant decline observed in Ontario at $77.5 million, though this was somewhat balanced by gains in seven other provinces and two territories. In the non-residential sector, permits rose by $1.2 billion to $5.6 billion, spurred by enhancements in Ontario's institutional sector, notably a new hospital project in the Niagara Census Metropolitan Area contributing $1.3 billion. Commercial permits increased by $87.8 million, mainly due to improvements in Quebec, which saw a rise of $59.1 million, despite a decline in Ontario by $71.9 million. These positive trends were partially counterbalanced by a decrease in the industrial sector, down by $117.2 million, with Quebec experiencing a $50.8 million drop. Overall, on an annual basis, the total permits grew by 5.1%.