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Canadian building permits fall 4.6% in April

Canadian building permits fell in April, after rebounding from a decline in March, as every component except commercial buildings posted declines, according to Statistics Canada.

The value of building permits issued by Canadian municipalities dropped 4.6% to C$7.81 billion in April from a revised value of C$8.19 billion in March.

Building permits in the residential sector declined 4.3% to C$5.05 billion from C$5.28 billion, with the multifamily dwelling component driving the decline with C$2.74 billion of building permits issued, down 5.2% from March.

The value of single-family permits slipped 3.3% to C$2.31 billion from C$2.39 billion.

Permits for nonresidential buildings fell 5.2% to C$2.76 billion in April from C$2.91 billion in March, with the industrial and institutional components declining 22.6% and 4.9%, respectively.

The value of commercial building permits edged up 1.7% to C$1.69 billion from C$1.67 billion.

The total value of building permits fell in five Canadian provinces, with British Columbia showing the largest decline of 22.6% to C$1.24 billion in April.