Building permit value drops in Nova Scotia

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Daily Business Buzz reports that the value of building permits issued in Nova Scotia fell dramatically in February, says Statistics Canada.

There were $84.7 million in permits issued in February, a 33.7% decline from the same period last year, and a 22.2% drop from January’s total.

More than half of the value of provincial permits were issued in Halifax. At $46.8 million, that is a 42.2% drop from the corresponding period last year, and a 32.4% decline from January.

However, residential permits in the province totaled $68.4 million, a 7.7% increase year over year, but a 23.6% decline from January. Non-residential permits totaled $16.4 million, a steep 74.6% drop from February 2012.

Nearly $6 billion in permits were issued nationally, a 1.7% increase from January, but an 8.5% drop year over year.

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