Ottawa, ON — In December, the total value of investment in building construction grew by 1.9 per cent to $23.7 billion. Statistics Canada reports that both the residential and non-residential sectors saw growth.
Specifically, the residential sector saw a 2.4 per cent increase ($401.0 million) to $16.8 billion in December. The overall growth was driven by the multi-unit component (up 2.6 per cent) and the single-family component (up 2.3 per cent).
In the multi-unit component, gains were led by Ontario ($266.9 million) and Alberta ($97.3 million). In the single-family component, gains were led by Ontario ($116.3 million) and British Columbia ($45.6 million).
Investment in the non-residential sector, building construction, grew slightly, up 0.6 per cent ($41.9 million) to $6.9 billion in December. The commercial (up 1.3 per cent) and institutional (up 0.2 per cent) components saw growth, while the industrial (0.4) component fell.
Specifically, commercial construction rose $43.8 million to $3.5 billion in December. This growth was driven by Alberta ($20.6 million), Ontario ($15.7 million) and British Columbia ($6.4 million). Investment in the institutional component grew by $3.8 million to $2.1 billion in December, led by British Columbia (up $21.1 million) and Alberta (up $7.6 million).
However, the industrial component fell $5.8 million to $1.3 billion in December, marking the 11th consecutive monthly decline. Quebec (down $3.9 million), British Columbia (down $2.5 million) and Manitoba (down $1.1 million) were the main contributors to the decline.