FX.co ★ Canada Building Permits Fall in May

Canada’s building permits declined by 1.7% month-on-month to C$12.4 billion in May 2026, following a sharper 7.6% drop in April and defying market expectations for a 2.4% increase. The overall decrease was driven by the non-residential sector, where permit values fell 6.1% to C$4.7 billion. This was largely due to a C$341.0 million decline in industrial permits, partially offset by an C$81.4 million increase in commercial permits. In contrast, residential permit values rose 1.2% to C$7.7 billion, as a C$161.9 million increase in multi-unit permits more than compensated for a C$70.7 million decline in single-family permits. On a year-on-year basis, the total value of building permits was down 4.5%.