The value of building permits plunged 15.9% to $3.7 billion in February, Statistics Canada reported Monday. The largest decreases came from the non-residential sector in Ontario.

Economists had expect a drop of 5% from the previous month.

StatsCan said the value of residential permits edged down 0.3% to $2.1 billion as an increase in the value of permits for multiple dwellings in British Columbia nearly offset declines in six provinces.

The agency says the value of non-residential permits fell 30.5% to $1.6 billion, due to a drop in Ontario and decreases in four other provinces.

The total value of construction intentions declined in half the provinces.

The value of permits for institutional components declined 56.4% to $363 million in February after a 64.2% fall in January.

Permit values for the commercial component declined 20.4% to $972 million.

The value of industrial permits increased 14.3% to $236 million, following a 50.8% decrease in January.

IE