Ottawa, ON — Total investment in building construction in Canada decreased by 1.1 per cent to $21.4 billion in October, following a 2.6 per cent increase in September, reports Statistics Canada.
Investment in residential building construction declined 2.1 per cent to $14.9 billion in October. Six provinces and two territories saw declines, led by Ontario (down $315.8 million), British Columbia (down $67.7 million), and Nova Scotia (down $42.6 million).
Additionally, investment in multi-unit construction fell 5.1 per cent to $7.8 billion in October, following the record high of $8.2 billion reached in the previous month. However, single-family home investment rose 1.6 per cent in October.
The non-residential sector saw an increase in construction investments, up 1.1 per cent to $6.5 billion in October. The industrial component increased 1.9 per cent to $1.4 billion in October, with Ontario (up $15.0 million) and Manitoba (up $14.6 million) leading the way.
Additionally, commercial construction investment rose slightly, up 0.3 per cent and institutional construction investment rose 1.8 per cent.