{"id":22767,"date":"2023-10-21T01:08:25","date_gmt":"2023-10-21T08:08:25","guid":{"rendered":"https:\/\/essential.construction\/news\/building-construction-investment-rises-in-august\/"},"modified":"2023-10-21T01:08:26","modified_gmt":"2023-10-21T08:08:26","slug":"building-construction-investment-rises-in-august","status":"publish","type":"post","link":"https:\/\/essential.construction\/news\/building-construction-investment-rises-in-august\/","title":{"rendered":"Building construction investment rises in August"},"content":{"rendered":"

\"-\"<\/a>
\n<\/p>\n

\n
<\/a><\/p>\n

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

Investment in building construction increased slightly more than a percentage point in August, coming in at $17.9 billion, reports Statistics Canada. The residential sector drove the growth over the July figures, jumping 1.6 per cent to $11.9 billion. The non-residential sector held its own, however, remaining relatively stable with a 0.1 per cent gain to land at $5.9 billion.<\/p>\n

The residential figures were a rebound for the sector after posting five months of consecutive declines. Quebec led the growth in both single-family and multi-unit investment.<\/p>\n

By component, single-family home investment rose 2.4 per cent to $5.9 billion as six provinces posted gains, and multi-unit construction investment was up almost one per cent, to reach $6 billion.<\/p>\n

Consistency was the name of the game in the non-residential sector, although there were gains and losses within the components of the sector. Despite gains in industrial and institutional investment, a decline in the commercial component left the sector largely unchanged for the month.<\/p>\n

Year-over-year results were more promising in the non-residential sector, with all three components posting gains. The industrial segment was up more than 17 per cent; commercial almost four per cent; and institutional came in 2.3 per cent higher than 12 months earlier.<\/p>\n

\u00a0<\/p>\n

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