Total Investment in Canadian Building Construction increased 1.5% in December

Statistics Canada (StatCan) is reporting that total investment in building construction increased 1.5% in December, following three consecutive months of declines. In December, non-residential construction investment remained at $4.4 billion for the third consecutive month. Ontario reported the largest gain—up 2.0% from November—but this growth was offset by declines reported in five provinces. While investments in residential construction reached a record high in December, up 1.9% to $11.1 billion. Single-unit investment continued to show strength for the third straight month, up 2.6%. Eight provinces posted gains, with Ontario (+2.8%), Quebec (+3.1%) and Alberta (+4.6%) accounting for the majority of the growth. Newfoundland and Labrador posted a decline in this component for the second straight month resulting from high-value renovation projects ending.