FX.co ★ Canada Building Permits Drop Sharply in November

In November 2025, building permits in Canada experienced a monthly decline of 13.1%, totaling C$12.0 billion. This drop interrupts a two-month period of growth and falls short of market forecasts, which anticipated a 6.5% decrease. The contraction was predominantly driven by the residential sector, which saw a reduction of C$1.0 billion, bringing it down to C$7.5 billion. Ontario emerged as the primary contributor to this downturn. In the multi-family segment, permits decreased by C$1.0 billion to C$4.9 billion, with Ontario and Quebec leading the decline, although improvements in British Columbia offered some compensation. Permits for single-family homes slightly decreased by C$3.8 million to reach C$2.6 billion, as increases in seven provinces and one territory were counterbalanced by a reduction in Quebec. The non-residential construction sector also saw a decline, dropping by C$788.2 million to C$4.5 billion, with widespread losses observed in the commercial (-C$422.6 million), institutional (-C$318.9 million), and industrial (-C$46.7 million) sectors.