{"id":15455,"date":"2023-04-15T09:01:59","date_gmt":"2023-04-15T16:01:59","guid":{"rendered":"https:\/\/essential.construction\/news\/building-construction-investment-values-up-across-the-board\/"},"modified":"2023-04-15T09:02:00","modified_gmt":"2023-04-15T16:02:00","slug":"building-construction-investment-values-up-across-the-board","status":"publish","type":"post","link":"https:\/\/essential.construction\/news\/building-construction-investment-values-up-across-the-board\/","title":{"rendered":"Building construction investment values up across the board"},"content":{"rendered":"

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Investment in non-residential building construction, February 2023. (Source: Statistics Canada, Table 34-10-0175-01\u2013Investment in Building Construction.)<\/p>\n<\/div>\n

All segments of Canada\u2019s construction sector saw gains in the investment in building construction in February, says Statistics Canada. Month-to-month gains were not massive, as the overall figure bumped up by one per cent to $20.6 billion, but year-over-year gains were significant in many segments, especially on the non-residential side, which posted a ninth straight monthly increase.<\/p>\n

Overall, investment in non-residential construction increased by 0.8 per cent to $5.6 billion in February. Ontario led the gains in every component.<\/p>\n

Industrial construction saw a monthly gain of 1.1 per cent to reach $1.1 billion in February but was up 23.1. per cent year over year as it continued to ride the rising wave of fifteen consecutive monthly increases.<\/p>\n

Commercial construction was relatively stable in February, popping up by a half per cent to $3.1 billion. Compared to a year earlier, the gain was 8.4 per cent. Both Ontario and Manitoba continued to climb for the sixth consecutive month.<\/p>\n

Institutional construction investment was up by one per cent, hitting $1.4 billion in February as the start of an educational building in Kelowna, B.C., helped contribute to growth. The institutional segment is up marginally (1.4 per cent) compared to 2022.<\/p>\n

On the residential side, single-family home construction in Nova Scotia helped drive residential investment, which advanced 1.1 per cent to $15 billion. The single-family home segment was up 1.3 per cent, gaining $102.8 million over January. Multi-unit construction increased 0.8 per cent to reach $6.9 billion. Most growth was seen in Ontario, which rose 7.6 per cent. On the other end of the spectrum, Quebec continued to contract, as it posted a ninth consecutive decline since reaching a peak in May 2022.<\/p>\n

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www.statcan.gc.ca<\/a><\/p>\n<\/p><\/div>\n