Statistics Canada (StatsCan) reported today (6-13-22) that investment in building construction rose by 2.7% to $20.9 billion (CAD) in April. Increases were reported in both residential, up 3.2%, and non-residential, up 1.4%. On a constant dollar basis (2012=100), investment in build construction grew 3.5% to $13.0 billion.
In April, residential construction investment grew for the seventh consecutive month, rising 3.2% to $15.7 billion. British Columbia led the way with an 8.3% increase, reaching a new record high. Investment in single-family homes increased 4.5% to $8.8 billion, with gains in seven provinces. Led by B.C., multi-unit construction investments was up 1.5% to $6.9 billion.
With seven provinces posting increases in April, investment in the non-residential sector rose 1.4%. Led by Ontario, investment in industrial construction increased 1.7% to $931 million. Nine provinces reported growth in commercial investment growing 1.5% to $2.9 billion. Marking its fourth consecutive monthly growth, institutional investment rose 1.0% to $1.4 billion.
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