Canadian Investment in Building Construction Declines in November 2022

Statistics Canada (StatCan) reported on Monday (1-16-23) that investment in building construction fell 1.4% to $20.4 billion (CAD) in November. On a constant dollar basis (2012=100), investment in building construction declined by 2.0% to $12.0 billion.

In November, investment in residential building construction was down 2.0% to $14.9 billion, the third consecutive monthly decline in this sector. Investment in single-family homes continued to decline for the fourth consecutive month, falling 3.9% to $7.8 billion, with all provinces reporting declines. Multi-unit investment edge 0.1% higher to $7.1 billion.

Investment in non-residential construction was up 0.2% to $5.5 billion in November. Industrial construction investment rose 0.9% to $1.1 billion and was up 25.5% year-over-year. This is the twelfth consecutive monthly increase in the sector. Commercial construction investment was unchanged during the month at $1.4 billion and has stayed closed to this value after reaching its peak in April.

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