Investment in Building Construction Declined 0.5% in October

Jan 6, 2020

Total investment in building construction decreased 0.5% from September to $15.5 billion in October. Investment in the non-residential sector was up (+0.5% to $4.9 billion), while the residential sector decreased (-1.0% to $10.6 billion). On a constant dollar basis (2012=100), investment in building construction was down 0.4% to $12.8 billion.

Residential investment 

Investment in the residential sector was down in six provinces. The largest decrease was in Ontario (-$129.6 million), which posted its first decline in four months. Investment in both single (-1.0%) and multi-unit (-0.9%) dwellings decreased to $5.3 billion nationally. Despite the national decline, residential investment in British Columbia rose (+5.3% to $1.9 billion) after reporting decreases in both single and multi-unit dwellings for the previous four months.

Non-residential investment edges up 

Investment in the non-residential sector edged up 0.5% to $4.9 billion in October. The commercial component increased 1.1% to $2.9 billion, largely due to increases in Ontario (+2.0% to $1.0 billion) and British Columbia (+3.8% to $546.9 million). The industrial (-0.3% to $902.4 million) and institutional (-0.4% to $1.1 billion) components edged down in October.

Source: Statistics Canada, www150.statcan.gc.ca/n1/daily-quotidien/191223/dq191223b-eng.htm