Investment in Building Construction in Canada Increased in August

Statistics Canada (StatCan) reported today (10-17-22) that investment in building construction increased 0.4% in August to $21.1 billion (CAD). On a constant dollar basis (2012=100), investment in building construction declined 0.2% to $12.7 billion.

Investment in residential building construction edged 0.5% higher in August to $15.8 billion. Single-family home investment increased 0.6% to $8.6 billion and has remained relatively stable over the past six months. Multi-unit construction investment for August increased 0.5% to $7.2 billion, with significant gains in British Columbia leading all sectors within the complex higher.

Investment non-residential building dipped 0.2% lower in August to $5.3 billion. Investment in the industries sector rose 0.9% to $1.0 billion, the nineth consecutive monthly increase. Commercial investment inched 0.1% higher to $3.0 billion. Institutional investment declined 1.4% to 1.3 billion.