Investment in Building Construction Rose 0.5% in July

Sept 29, 2019

Total investment in building construction increased 0.5% in July to $15.2 billion, with gains in both the residential (+0.6% to $10.4 billion) and non-residential (+0.3% to $4.8 billion) sectors. On a constant dollar basis (2012=100), investment in building construction increased 0.8% to $12.8 billion.

Single-unit and multi-unit investments

The multi-unit residential component was the only investment component to post a decline for the month of July, down 1.6% to $5.2 billion, mainly as a result of decreases in British Columbia (-$149.9 million) and Saskatchewan (-$43.8 million). Investment in single-unit construction was up 2.9% to $5.2 billion, driven by Ontario (+$139.3 million) and Nova Scotia (+$32.6 million). This increase more than offset the decline in investment in multi-unit construction.

Non-residential investment largely unchanged

The commercial (+0.3% to $2.8 billion), industrial (+0.2% to $911.1 million) and institutional components (+0.1% to $1.1 billion) were all up slightly in July.

On an unadjusted basis, investment in new non-residential building construction grew 3.3% to $2.3 billion, led by the province of Quebec (+9.4% to $404.7 million). This was attributable in part to projects such as a government building valued at $151.0 million in the newly developing eco-neighborhood of Estimauville in the city of Québec.

Source: Statistics Canada, www150.statcan.gc.ca/n1/daily-quotidien/190923/dq190923b-eng.htm