The total value of building permits issued by Canadian municipalities in May bounced back 20.2% to $7.4 billion, following declines of 13.4% in March and 15.4% in April. This was the largest percentage increase since March 2009, and it coincided with the relaxing of COVID-19 construction restrictions in Ontario, Quebec and Prince Edward Island. The May level is still 20.4% below the last peak observed in January 2020. Although all provinces still had public health guidelines in place in May, Ontario, Quebec and Prince Edward Island had the most impactful policy changes during the month. In Ontario, some ... (full story)