top of page
AD Leaderboard

Dec 15, 2022

Investment Steady In Building Construction

Nationally, investment in building construction in October was largely steady, up 0.2 per cent to $20.9 billion, with Ontario accounting for nearly all the gains, says Statistics Canada. Investment in residential building construction was down slightly by 0.1 per cent to $15.4 billion in October. Quebec caused most of this fall, as it continued to decline in this component after peaking in May. Single family home investment decreased 2.3 per cent to $8.2 billion, with nine provinces reporting declines. This was the largest monthly decrease for single family construction since July 2021. Multi-unit construction investment increased 2.5 per cent to $7.2 billion, with Ontario (+8.6 per cent) accounting for most of the growth. Investment in non-residential construction was up 0.9 per cent to $5.5 billion in October, with Ontario (+1.2 per cent) leading the gains in each component. Industrial construction investment rose 1.3 per cent to $1.1 billion for the month and was up 24.4 per cent year over year. Commercial construction investment increased 1.3 per cent to $3.1 billion in October and institutional construction investment edged down 0.3 per cent to $1.4 billion.

Sign up for our Daily News Alerts to receive relevant industry news, articles, and previews for our next issue of Home Improvement Retailing. Delivered directly to your inbox. Subscribe here.

bottom of page