Canada: Municipalities issued $8.1 billion worth of building permits, down 2.3% from June

"In June, Canadian municipalities issued $8.1 billion worth of building permits, down 2.3% from the previous month," Statistics Canada reported on Wednesday.

Key takeaways from the official publication

• The decline was the result of lower construction intentions for residential buildings, following a strong May.
• The value of permits fell 1.8% to $24.3 billion in the second quarter, following a 2.4% rise in the first quarter. 
• In the residential sector, municipalities issued $5.2 billion worth of building permits in June, down 5.7% from May.
• The value of multi-family dwelling permits dropped 8.0% to $2.8 billion in June. This followed a record high of $3.1 billion the previous month.