Canadian Investment in Building Construction Increases in November
Investment in building construction, November 2023
Statistic Canada (StatCan) reported on Thursday (1-18-24) that investment in building construction increased 1.7% in November to $19.8 billion (CAD). On a constant dollar basis (2017=100), investment in building construction increased by 1.3% to $12.3 billion in November.
Investment in residential building construction rose 2.2% in November to $13.7 billion. Investment in detached single-family homes increased 1.2% to $6.6 billion, marking the fourth consecutive monthly increase. Investment in multi-unit buildings—which includes apartments, semi-detached and row homes—increased 3.1% to $7.2 billion.
Investment in the nonresidential sector inched 0.4% higher to $6.0 billion in November. The institutional sector posted a gain of 3.1% to $1.6 billion, and the industrial sector grew 1.0% to $1.3 billion. Those increases were offset by the decline in the commercial sector of 1.2% to $3.2 billion.
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