Investment in Building Construction Dipped 1.9% in May

Investment in Building Construction - Seasonally Adjusted

July 12, 2021

Investment in building construction cooled slightly in May, decreasing 1.9% to $19.4 billion. This was the first drop in seven months. Residential construction investment (-2.7%) was down for the first time since April 2020, while non-residential construction increased slightly.

On a constant dollar basis (2012=100), investment in building construction declined 2.7% to $14.8 billion in May.

Residential investment declines for the first time since April 2020

Residential construction was down 2.7% in May, bringing total investment to $14.8 billion with declines in both single and multi-unit construction.

Investment in single-family homes was down 2.7% to $8.3 billion. Quebec and Ontario posted the largest declines. Despite the decrease this month, single-unit investment remained approximately 60.0% above pre-COVID-19 levels.

With half of the provinces decreasing, multi-unit construction investment fell 2.6% to $6.5 billion in May. Quebec reported the largest decline (-11.0%), reversing a 13.0% increase in April.

Non-residential investment posts small gains

Non-residential investment increased 0.6% to $4.7 billion in May.

Investment in commercial construction increased 0.8% to $2.6 billion. Ontario continued to lead this component with multiple high-value construction projects in the works across the province such as Amazon fulfillment centres, the Labourers Union office building in Vaughan and a Canadian Tire distribution centre in Brampton.

Institutional investment continued to grow for the seventh consecutive month, up 1.2% to $1.2 billion. Quebec led the way, advancing 3.7% to $341 million. Ontario, Alberta and Prince Edward Island were the other provinces to report notable gains.

Seven provinces saw declines in industrial construction, which decreased 0.7% to $837 million nationally in May.

Source: Statistics Canada, www150.statcan.gc.ca/n1/daily-quotidien/210712/dq210712a-eng.htm?CMP=mstatcan

Related Articles


Changing Scene

  • Nedco Introduces Jay Frezell as New General Manager at Nedco West

    Nedco Introduces Jay Frezell as New General Manager at Nedco West

    Nedco has announced Jay Frezell as the new General Manager of Nedco West, effective August 1st, 2024. “Jay brings over 25 years of experience in the datacom, power quality, and wire & cable industries. His impressive track record of success in distribution, sales, and manufacturing equips him with a deep understanding of our industry’s challenges and opportunities,”… Read More…

  • OmniCable Hires Jeremy Crosby as National Account Manager

    OmniCable Hires Jeremy Crosby as National Account Manager

    Omni Cable LLC is proud to announce the appointment of Jeremy Crosby as National Account Manager. In this role, Crosby will oversee one of OmniCable’s national accounts. “As someone who prioritizes continuous improvement, I am excited to be a part of a culture that pushes boundaries while maintaining a standard of service and accountability that… Read More…


Peers & Profiles