Canadian Investment in Building Construction Declined in December and in Q4 Overall

Statistics Canada (StatCan) reported today (2-13-23) that investment in building construction decreased 1.3% to $20.2 billion (CAD) in December. On a constant dollar basis (2012-100), investment in building construction decreased 2.0% to $11.6 billion.

Investment in residential building construction was down 2.1% in December to $14.6 billion. Investment in the construction of single-family homes declined for the fifth consecutive month, down 0.5% to $7.8 billion. Investment in multi-unit construction fell 3.9% in December to $6.8 billion.

Investment in non-residential building construction was up 0.8% to $5.6 billion in December. Industrial construction investment increased for the thirteenth consecutive month, up 2.1% to $1.1 billion. Commercial construction was steady and was up 0.1% to $3.1 billion. Institutional construction investment increased 1.5% to $1.4 billion and has remained at this level since October 2021.

2022Q4 Summary:

The total value of investments in building construction in all of Q4 declined 1.9% to $61.3 billion. The residential sector was down 3.4% to $44.8 billion, while the non-residential sector advanced 2.6% to $16.5 billion.