Value of Canadian industrial permits jumped 57% in May 2020
The total value of building permits issued by Canadian municipalities in May bounced back 20.2% to $7.4 billion, following declines of 13.4% in March and 15.4% in April.
This was the largest percentage increase since March 2009, and it coincided with the relaxing of COVID-19 construction restrictions in Ontario, Quebec and Prince Edward Island. The May level is still 20.4% below the last peak observed in January 2020.
Reflecting policy changes, the largest increases in the value of permits were in Quebec (+72.0%) and Ontario (+24.0%). Prince Edward Island posted the largest gain in the value of permits among the Atlantic provinces and the largest percentage increase across the country (+1,019.5%), following a drastic 87.6% drop in April.
Non-residential permits increase
The value of commercial permits was up 20.8% to $1.5 billion in May, with the largest increases reported in Ontario (+26.3%) and Quebec (+147.8%).
Industrial permits jumped 57.6% to $600 million, following a substantial decrease in April. This increase was largely driven by a permit for a Molson brewery in the CMA of Montréal.
Institutional permits posted their first gain for 2020, increasing 2.8% to $544 million. Permits for postsecondary institutions led the increase.
Single-family permits post record gain
The total value of residential permits was up in six provinces in May, increasing 18.7% to $4.8 billion nationally. The largest increase was in Quebec, up 53.4% for the month. On April 20, Quebec reopened residential construction to be delivered by July 31; the remainder of the construction sector was reopened on May 11.
The vast majority of residential gains were attributable to increases in the value of permits for single-family homes, which rose by a record $518 million (+37.5%), following a drop of 34.6% in April. Seven provinces reported gains, led by Ontario and Quebec.
The value of permits for multi-family dwellings increased 9.0% to $2.9 billion, driven by projects in the Montréal and Vancouver census metropolitan areas (CMAs).
More from Industry News
The all-new CASE TR340B compact track loader — operating at 90 horsepower with a 3,400-pound rated operating capacity — is the most powerful radial-lift CTL in the CASE lineup. Its all-new 8-inch LCD display improves on industry-leading CASE visibility with a new backup camera that is viewable in both forward and reverse operation. The display also showcases critical operating information and "trip" details. All-new electro-hydraulic controls, managed through the display, make it easier than ever for operators to dial CASE CTLs into specific application demands. All new cab controls and joysticks make the new TR340B easy to own and operate.
Industries such as construction, mining, energy, utilities and forestry, face many challenges when it comes to tracking assets and employees. Equipment often has to be transferred between locations, or monitored while it is dormant during off seasons. Lone workers may have to travel long distances or visit multiple sites during the course of their activities. And, all of this is further complicated today with shifting supply chains and economic realities putting further strain on the bottom line.