Non-residential Building Permits — Up, Down And Sideways. By The Scotiabank Group-00-6586

By Author: rafalinares
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Industrial permit demand has edged up in early 2010 after a sharp decline last year. The pickup is being driven mainly by projects related to transportation and distribution, primarily in Ontario and Alberta.

Meanwhile, investment intentions for new manufacturing and mining facilities have stabilized.

Institutional permit demand has fallen sharply in early 2010 following steady growth from 2007 through mid-2009.

Continuing investment in educationrelated projects is more than offset by sharply lower construction intentions in health care facilities and government administration buildings.

The falloff is broadly based regionally. Commercial permit demand has stabilized in early 2010 following a precipitous drop last year.

For the time being, recreational facility and hotel developments are proving more popular than office, warehouse or retail building projects. Regionally, Quebec and Saskatchewan are posting the strongest intentions.

Despite more recent positive developments in both commercial and industrial property sectors, verall
activity ...
... is likely to remain on a relatively modest growth track over the next several years. This in turn will reinforce a more subdued residential construction and renovation outlook, and a winding down of public infrastructure spending. As a result, we expect the broad construction sector to make a much smaller contribution to domestic growth and employment than has been the case in recent years.

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