Investment in Building Construction Rose 1.3% in February

Apr 28, 2020

Total investment in building construction increased 1.3% to $15.9 billion in February, the fourth consecutive month-over-month growth. Gains were reported in all components of residential and non-residential investment. On a constant dollar basis (2012=100), investment in building construction increased 1.1% to $13.0 billion.

Investment in residential construction

Investment in residential construction rose 1.4% to $10.7 billion in February. Investment in single-unit construction increased 1.9% to $5.2 billion. This rate of growth surpassed that observed in the multi-unit component (+0.9% to $5.6 billion), partially due to major projects in the Vancouver area. Multi-unit gains in British Columbia outweighed declines in seven other provinces.

Investment in non-residential construction

Non-residential investment was up 1.2% to $5.1 billion in February. Ontario (+$39.4 million) and Quebec (+$29.1 million) reported the largest gains, while Alberta continued to decline, down 0.7% to $678.9 million. 

The commercial component represented the majority of growth in the non-residential sector, up 1.5% to $3.0 billion nationally. Ontario (+2.7% to $1.1 billion) and Quebec (+3.5% to $650.4 million) contributed the most to the gains, which more than offset the declines reported in six provinces. 

Meanwhile, investment in construction for the industrial (+1.0% to $937.9 million) and institutional (+0.6% to $1.2 billion) components also increased month over month.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Source: Statistics Canada, www150.statcan.gc.ca/n1/daily-quotidien/200421/dq200421b-eng.htm