The value of Canadian building permits decreased in November for the second consecutive month, Kallanish learns from a Statistics Canada press release.

November total building permit values slipped by 5.9% month-on-month but were up 5.1% year-on-year to CAD 11.8 billion ($8.2 billion).

The total value of non-residential sector permits increased by 11.1% y-o-y in November to CAD 4.5 billion. That sector was down by 3.2% m-o-m. The primary contributor to November's monthly decline was the sharp decline in total industrial permits.

Industrial building permit values were down 20.9% m-o-m in November and down 2.2% y-o-y to CAD 901 million.

Commercial sector building permits in November were up 1.3% m-o-m and up 18.6% y-o-y to CAD 2.07 billion. Institutional building permit valuations were up 4.1% y-o-y to CAD 1.6 billion.