October was a very busy month for construction companies in the province as building permits totalled a record $370.6 million. Month-over-month, building permits were up by 26.2 per cent between September 2013 and October 2013, the highest percentage increase among the provinces and well ahead of the 7.4 per cent posted nationally.
According to the Statistics Canada report released today, building permits were up by 14.0 per cent when compared with October 2012, second best in Canada and better than the 6.2 per cent decline recorded nationally.
“The Saskatchewan economy is in very good shape,” Economy Minister Bill Boyd said. “Building permits released today support the overall growth and more importantly, reminds us to be optimistic about the versatility and strength of our economy.”
Residential building permits were $172.5 million in October 2013, up 7.0 per cent over last year. Non-residential permits came in at $198.2 million, a 20.9 per cent rise over last October.
“As we move into the latter months of 2013 with record building permit figures, it is very clear we are among the top economies in Canada,” Boyd said. “The stellar performance this year suggests 2014 will be another good year filled with optimism and prosperity.”