According to Statistics Canada, investment in building construction rose 2.7 percent to $19.4 billion in October. The residential sector grew 3.9 percent to $13.4 billion, while investment in the non-residential sector was essentially flat, remaining at $6.0 billion.
Investment in residential building construction increased 3.9 percent month over month to $13.4 billion in October, with eight provinces reporting increases. The Prairie provinces, Manitoba (+16.2 percent), Saskatchewan (+11.5 percent) and Alberta (+9.5 percent), had the strongest gains, while Newfoundland and Labrador (-6.1 percent) saw the largest decline.
Investment in detached single family homes increased 3.1 percent to $6.5 billion, led by a 23.3 percent increase in Manitoba.
Multi-unit investment (apartments, semi-detached and row homes) rose 4.6 percent to $6.9 billion on strong growth across all provinces, with only Newfoundland and Labrador (-8.8 percent) and Quebec (-1.5 percent) posting declines.
Investment in the non-residential sector was essentially flat month over month, remaining at $6.0 billion in October. Gains in industrial (+1.0 percent to $1.2 billion) and institutional (+0.7 percent to $1.6 billion) investments were offset by declines in commercial investment (-0.7 percent to $3.2 billion).
Gains in the institutional sector were led by investments in hospital facilities. Investment in industrial facilities was led by the construction of an active cathode materials plant for the electric vehicle supply chain in Bécancour, Quebec.