Building Permit Blues
Every month Statistics Canada publishes the building permit data for the previous month and I look for some sign of good news. From January–April 2004 to January–April 2005, the total value of building permits in New Brunswick declined by 5.5% from the previous year while rising 6.1% Canada-wide.
Building permit data shows the strength of the construction sector which is an indication of the health of a local economy.
And, as always, I look at the building permit data on a per capita basis to see where we are compared to other provinces. As usual, New Brunswick is massively underperforming the strong economies in Canada: Alberta, British Columbia and Ontario.