indicatorThe Twenty-Four

Construction outlook deteriorated in September

The value of both residential and non-residential permits pulled back in September

By Rob Roach, ATB Economics 3 November 2022 less than a minute

After pulling back by 9.2% in August, the seasonally adjusted value of building permits issued by Alberta municipalities* was down by 11.9% ($160 million) in September.

Residential permit value was down by 14.1% ($131 million) while non-residential construction intentions fell by 7.0% ($29 million).

It was a similar picture nationally, with permit value falling by 17.5% with construction intentions lower in both the residential (-15.6%) and the non-residential (-21.5%) sector.

Adjusting for inflation, year-to-date permit value in Alberta was down by 6.1% over the first nine months of 2022 compared to the same period in 2021. Residential permits were down by 7.8% and non-residential by 3.5%.

*Statistics Canada’s Building Permits Survey covers all Canadian municipalities that issue permits.

Answer to the previous trivia question: Banff and Jasper are the two most popular national parks with annual attendance from April 2019 to March 2020 of 4.1 million and 2.5 million, respectively.

Today’s trivia question: When did Alberta’s Royal Tyrrell Museum of Palaeontology open?

The seasonally adjusted value of building permits in Alberta fell in August and September

The seasonally adjusted value of building permits in Alberta fell in August and September


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