A recent economic report by the Ontario Construction Secretariat revealed that the total ICI building permit values were down 37.6 per cent from March to April.
The report revealed that both the commercial and industrial sector permit values were down significantly compared to March, while the institutional sector experienced a sizable increase. Year-to-date values were up about 34 per cent overall, with institutional sector permit values experiencing a 50 per cent increase compared to last year, according to the report.
Industrial permit values declined by 69.2 per cent ($800.8 – $246.6 million) after previously increasing for three months in a row. In contrast to the other two sectors, institutional building permit values increased by 59 per cent ($369.9 – $589 million).
Overall ICI building permit value was up around 34 per cent compared to the same time last year and the largest percentage increase was in the institutional sector at 50 per cent.