Building permits for June fell to $12B, losing 9% M/M and coming in weaker than analyst expectations for a ~3% decline - mainly driven by institutional activity…

… which returned to normal after a strong May, with a $1.3B decline in Ontario driven by the non-repeat of a hospital project that made for a tough M/M comparison.

Residential permitting activity contributed to a lesser degree, continuing its downward drift through 2025 - with BC multi-unit activity (down $490M) and Ontario single-family activity (down $90M) weighing on results.

You might be interested in…

Disclaimer: Content on this site, including research reports, is provided by Bullpen Finance Inc. for informational purposes only and does not constitute investment advice. Bullpen Finance Inc. receives compensation from issuers for research coverage; such compensation does not influence opinions expressed. For complete disclosures, please see our Legal & Disclosures section.