Investment in Canadian Building Construction Increased in January—All Components Rise

Statistics Canada (StatCan) reported today (3-14-23) that in January, investment in building construction in Canada increased 1.5% to $20.4 billion (CAD), with all components posting gains. On a constant dollar basis (2012=100), investment in building construction increased 2.4% to $11.9 billion.

Investment in residential building construction in Canada increased 1.9% to $14.9 billion in January. This follows four consecutive monthly declines at the end of 2022. Single-family home investment rose 2.4% to $8.0 billion. Multi-unit construction increased 1.3% to $6.8 billion.

Investment in non-residential construction in Canada continued to edge higher, up 0.5% to $5.6 billion in January. Industrial construction investment increased 1.1% to $1.1 billion and was up 25.0% year-over-year. Commercial construction inched up 0.1% to $3.1 billion. Institutional construction investment was up 0.7% to $1.4 billion.

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