Investment in Building Construction Up 1% in September

Investment In Building Construction

Nov 27, 2019

Total investment in building construction rose 1.0% from August to $15.6 billion in September. Investment was up for both the residential (+1.2% to $10.8 billion) and non-residential (+0.4% to $4.9 billion) sectors. On a constant dollar basis (2012=100), investment in building construction rose 0.7% to $12.9 billion. Total investment grew 2.4% from the second to the third quarter.

Ontario leads the provinces in residential investment

Investment in the residential sector was up in five provinces in September, led by Ontario (+$89.4 million) and Quebec (+$43.3 million). Nationally, investment in the single (+1.4% to $5.4 billion) and multi-unit (+1.1% to $5.3 billion) dwellings increased compared with August. In Ontario, investment in multi-unit dwellings rose for the fourth consecutive month, up 1.9% in September to $2.1 billion.

Non-residential investment edges up 

Investment in the non-residential sector edged up 0.4% to $4.9 billion in September. The commercial component increased 0.7% to $2.8 billion, with Quebec posting the largest increase (+$11.2 million) due to ongoing developments in the eco-neighborhood of Estimauville in the city of Québec. Nationally, the industrial and institutional components were largely unchanged.

Third quarter 2019: Investment in single homes in Ontario up sharply

Total investment in building construction grew 2.4% from the second quarter to $46.4 billion in the third quarter, driven by increased investment in single homes in Ontario (+10.4%).

Investment was up in every component of the non-residential sector in the third quarter with the largest increase in British Columbia (+5.5%).

On an unadjusted basis, quarterly investment in non-residential new construction rose 11.5% year over year to $7.0 billion in the third quarter, reflecting gains in the commercial component (+19.5% to $3.9 billion). 

Investment in residential new construction was largely unchanged year over year at $16.6 billion in the third quarter. Lower investment in singles (-7.3%) and doubles (-2.0%) was offset by increases in row homes (+13.6%) and apartments (+5.2%).

Source: Statistics Canada, https://www150.statcan.gc.ca/n1/daily-quotidien/191122/dq191122b-eng.htm

Related Articles

Changing Scene

  • AKA Energy Systems and ABB Strengthen Strategic Partnership to Deliver Canadian Power and Propulsion Solutions

    AKA Energy Systems and ABB Strengthen Strategic Partnership to Deliver Canadian Power and Propulsion Solutions

    AKA Energy Systems is pleased to announce a new strategic partnership between AKA and ABB in Canada. As an officially recognized ABB Value Provider (AVP) — System Integrator, AKA brings fully authorized design, integration, and support capabilities for ABB Motion drives solutions. This collaboration brings together ABB’s global leadership in electrification, automation, and drive technologies… Read More…

  • Guillevin Celebrates Two Milestones

    Guillevin Celebrates Two Milestones

    In a recent announcement, Guillevin was proud to celebrate two incredible milestones at the company. A huge congratulations went out to Ken on 35 years and Nas on 40 years with Guillevin. Their dedication, hard work, loyalty, and commitment over the years have helped shape the standard of excellence that defines the company today. Thanks… Read More…

Peers & Profiles

Copper US Dollar Price Per Pound