FX.co ★ Canada Building Permits Unexpectedly Rise

In January 2026, the total value of building permits in Canada increased by 4.8% month-over-month to C$13.3 billion. This followed a downwardly revised 6.1% rise in December and defied market expectations for a 2% decline.

The overall advance was largely driven by the non-residential sector, where permit values climbed 9.4% to C$5.4 billion. Within this category, industrial permits recorded the strongest monthly gain since July 2024, rising by C$356.8 million to C$1.2 billion. Institutional permits also advanced significantly, up C$235.7 million to C$2.0 billion. In contrast, commercial permits decreased by C$128.5 million, falling to C$2.2 billion.

Residential construction intentions edged higher as well, with permit values up C$143.0 million to C$8.0 billion. This growth was driven by the single-family segment, where permit values rose C$222.3 million to C$2.7 billion. These gains more than offset the decline in the multi-unit segment, which fell by C$79.3 million to C$5.3 billion.