Building Permits Surge, Demonstrating Strong Economic Growth for Saskatchewan
Value of Building Permits Increased by 86.2 per cent Year-Over-Year in July.
According to data released by Statistics Canada today, the value of building permits surged in July 2022, reaching $286 million, a jump of 86.2 per cent (seasonally adjusted) compared to July 2021, placing Saskatchewan second among the provinces.
“Today’s outstanding July 2022 building permit numbers are just another sign of Saskatchewan’s continued growth and economic strength,” Trade and Export Development Minister Jeremy Harrison said. “Saskatchewan has one of the most competitive business environments in all of Canada, and we will continue to create jobs and opportunities for the people of Saskatchewan.”
Compared to June 2022, Saskatchewan also showed strong growth with an increase of 28.2 per cent (seasonally adjusted), the second highest increase among the provinces.
Both residential and non-residential building permits had significant growth over last year, increasing 86.7 per and 85.9 per cent, respectively, during that period.
Saskatchewan has continued to rank highly among the provinces in a number of recent key economic indicators, including June 2022 wholesale trade numbers, which grew by 64.8 per cent year-over-year, the highest growth among the provinces and by 14.9 per cent month-to-month, the second highest among the provinces. Investment in building construction numbers for June 2022 also saw Saskatchewan first among the provinces with an increase of 63 per cent year-over-year, and 17.6 per cent month-to-month. Saskatchewan also was second in both urban housing starts and merchandise exports in June 2022, with year-over-year increases of 35.6 per cent and 57.3 per cent, respectively.
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