Canadian building intentions dip in July

Construction intentions in Canada declined 2.3 percent in July, with municipalities issuing $6.8 billion worth of building permits, Statistics Canada said. The main factor in the monthly decline was lower construction intentions for both residential and non-residential buildings, particularly in Ontario, the agency said. The residential sector was coming off two consecutive monthly gains, but in July permits values decreased 2.4 percent to $4.3 billion. Municipalities authorized construction of 19,139 new dwellings, down 4.9 percent from June. The value of building permits in the non-residential sector dropped 2.1 percent to $2.5 billion after a 9 percent decrease in June, the report said.