There are hints of a bit of a turnaround in Saskatchewan’s construction sector.
A new report on building permits issued by local governments – this one for April – is generating some positive news for the province. Unlike most of Canada, Saskatchewan is seeing some improvement. And this is the second consecutive month of gains, so we’re starting to see the beginnings of a trend.
We are one of only four provinces to show gains on the industrial side of the business. This is a signal that the commercial community is feeling inclined to increase its capital spending or investment. In fact, according to StatsCan, we were one of the provinces leading the way in terms of percentage gains in this category.
The increase in the overall value of building permits stood at nearly 16 per cent in March following a 22-per-cent gain in February. And this time it was the commercial side that was the major contributor. So we’re seeing bullish signals from a couple of the business segments in Saskatchewan, while places like Vancouver and Toronto are now posting significant declines in the face of higher taxes and tighter mortgage rules.