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Investment in Canadian building construction up 0.3 percent in December

Thursday, 15 February 2024 20:21:22 (GMT+3)   |   San Diego
       

According to Statistics Canada, investment in building construction edged up 0.3 percent month over month to $19.8 billion in December. The residential sector grew 0.3 percent to $13.8 billion, and investment in the non-residential sector rose 0.3 percent to $6.1 billion.

Investment in residential building construction grew 0.3 percent to $13.8 billion in December. Gains in Quebec (+4.6 percent; +$107 million), Ontario (+1.4 percent; +$78 million), British Columbia (+0.9 percent; +$21 million) and Prince Edward Island (+11.9 percent; +$9 million) were partially offset by declines in the other six provinces, where the pace of new construction slowed from earlier in the year.

Meanwhile, investment in detached single-family homes declined 1.0 percent to $6.5 billion, while investment in multi-unit buildings, which includes apartments, semi-detached and row homes, increased 1.6 percent to $7.3 billion.

Investment in the non-residential sector rose 0.3 percent to $6.1 billion in December. Increases were recorded in nine provinces, with only Newfoundland and Labrador (-2.9 percent to $24.8 million) reporting a decline.

Gains in the institutional (+3.4 percent to $1.7 billion) and industrial (+0.4 percent to $1.3 billion) components were mostly offset by a decline in commercial investment (-1.3 percent to $3.1 billion).


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