Statistics Canada – Investment in building construction edged up to $15.5 billion in November

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Ontario Construction News staff writer

Statistics Canada reports that total investment in building construction edged up 0.1 percent, to $15.5 billion in November. Investment in the non-residential sector rose 0.8 percent to $5.0 billion, while the residential sector decreased 0.2 percent to $10.6 billion.

Residential investment

Residential sector investment was down in five provinces in November, including Ontario. Nationally, investment in single-unit dwellings decreased 2.0 percent to $5.2 billion, while multi-unit dwellings increased 1.6 percent to $5.4 billion.

Non-residential investment

In the same month, non-residential sector investment across Canada rose 0.8 percent to $5.0 billion and the commercial component increased 1.4 percent to $2.9 billion, led by Ontario with a 2.8 percent jump to $1.1 billion).

However, national growth was dragged down by a two percent drop in British Columbia – the province’s first decline in commercial investment since May 2018.

Investment in the institutional component edged down 0.2 percent to $1.1 billion, largely due to Alberta which declined 2.7 percent – the 20th consecutive monthly decrease in institutional building construction there.

Nationally, the industrial component rose 0.4 percent to $906.8 million with Ontario up two percent and declines in six provinces.

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