July building permit values drop 3.5 percent
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Canadian municipalities issued $7.9 billion worth of building permits in July, down 3.5 percent from June and the first decrease since March 2017. The value of building permits issued for non-residential structures fell 5.7 percent in July to $2.9 billion, the first decrease since February 2017. The commercial component fell 14.7 percent in July to $1.5 billion, following two consecutive monthly increases. The value of building permits issued for industrial structures fell 4 percent to $558 million in July, following a 7.8 percent gain in June. In contrast, the value of permits for institutional structures rose 11.9 percent, to $903.4 million, the second consecutive monthly increase and the highest value since October 2015.