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<\/a><\/p>\nInvestment in non-residential building construction in November of 2024. (Source: Statistics Canada, Table 34-10-0286-01 \u2013 Investment in Building Construction.)<\/p>\n<\/div>\n
Overall, investment in building construction edged down slightly in November, reports Statistics Canada in its latest construction investment report. The 0.5 per cent slip brought investment to $21.4 billion in November. This followed a 1.1 per cent decrease in October. Year over year, investment in building construction grew 2.7 per cent in November.<\/p>\n
The monthly decline from October was driven by the residential sector, which fell $168.1 million to land at $14.8 billion, but was partially offset by a $71.5 million gain in the non-residential sector, which came in at $6.6 billion.<\/p>\n
The retraction in November\u2019s residential building investment figures were the result of a 4.8 per cent drop in multi-unit dwelling construction, which was at $7.5 billion for the month. Much of that decline was attributed to Ontario, which was $317.9 million below the October figures.<\/p>\n
Single family home construction investment actually rose 2.9 per cent for the month, coming in at $7.3 billion in November. Monthly increases were observed in eight provinces, with Ontario leading the national gains.<\/p>\n
Non-residential construction investment reached a record high in November. The $6.6 billion posted marked the fourth consecutive monthly increase. By segment, the industrial component increased 2.2 per cent to $1.4 billion; commercial construction edged up 0.4 per cent to $3.3 billion; and the institutional component rose 1.5 per cent to $1.9 billion.<\/p>\n
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