Statistics Canada announced on Monday that the value of building permits issued by the Canadian municipalities rose 4.0 percent m-o-m in January 2020, following a revised 9.9 percent m-o-m surge in December 2019 (originally a climb of 7.4 percent m-o-m).

According to the report, the value of residential permits surged 12.7 percent m-o-m in January, as permits for multi-family dwellings climbed by 17.1 percent m-o-m, while single-family permits increased by 7.0 percent m-o-m.

At the same time, the value of non-residential building permits fell 7.8 percent m-o-m in January, as declines in institutional (-30.5 percent m-o-m) and commercial (-0.8 percent m-o-m) permits more than offset a gain in industrial permits (+6.8 percent m-o-m).

In y-o-y terms, building permits jumped 11.2 percent in January.