Investment in building construction increased in August

by Steve Randall on 22 Oct 2019

There was an increase in investment in Canada’s building construction in August according to new figures.

Statistics Canada reports that residential construction investment was up 1.8% to $10.6 billion while non-residential gained 0.5% to $4.9 billion. The total of $15.5 billion was a 1.4% increase compared to the previous month.

On a constant dollar basis, investment in building construction was up 1.2% to $13 billion.

For the residential sector, multifamily was up 0.4% to $5.2 billion led by a $129.2 million investment in Ontario.  Single family investment was up 3.4% to $5.4 billion with Ontario and Alberta leading the gains ($94m and $47.5m respectively).

Non-residential construction investment was driven by commercial – up 0.8% to $2.8 billion – and a 0.2% rise for institutional ($1.1 billion). Industrial was down 0.4% to $905.4 million.

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