Edmonton building permits value rises 66 per cent
BY BILL MAH, EDMONTONJOURNAL.COM JULY 6, 2012 3:01 PM
STORYPHOTOS ( 1 )
Alberta Speaker Gene Zwozdesky shovels some soil during an event to mark the start of construction for a new 12-storey hotel in the Quarters at Jasper Avenue and 96th Street.
Photograph by: Rick MacWilliam , edmontonjournal.com
EDMONTON - The value of building permits issued in the Edmonton census metropolitan area for May soared by nearly 66 per cent, said Statistics Canada Friday.
Construction intentions were valued at $478.6 million in May, up from $288.9 million in April.
The value of building permits is down 16 per cent from $568.4 million a year earlier, but May 2011 was exceptionally high, said City of Edmonton senior economist Milap Petigara.
Building permits, which show an intent to build but are not always followed by immediate construction, are an economic indicator that can fluctuate considerably month to month.
http://www.edmontonjournal.com/business/...mits+value+rises+cent/6895615/story.html