Canadian Investment in Building Construction Increased 1.2% in November
Investment in building construction, November 2021
Statistics Canada (StatsCan) reported today (1-13-22) that investment in building construction increased 1.2% to $18.0 billion (CAD) in November. Every component, except industrial construction, experienced an increase. On a constant dollar basis (2012=100), investment in building construction grew 0.5% to $12.3 billion.
Overall, residential construction investment rose 1.5% to $13.1 billion in November. Multi-unit construction investment rose 2.4% to $6.0 billion, leading the entire complex higher. Investment in single-family homes increased 0.7% to $7.1 billion.
Non-residential construction investment edged up 0.6% in November to $4.9 billion. Commercial investment posted its fifth consecutive monthly increase of 0.6% to $2.7 billion. Investment in the institutional component was up 1.4% to $1.4 billion. Conversely, industrial construction declined -0.7% to $824 million, reflecting decreases in Ontario (-1.6%) and Manitoba (-6.8%). Nova Scotia saw strong gains, rising 14.8%.
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