HPAC Magazine

StatsCan Reveals Construction Investments on the Rise in February

April 21, 2020   Doug Picklyk



The latest release of data from Statistics Canada reveals that total investment in building construction increased 1.3% to $15.9 billion in February 2020, the fourth consecutive month-over-month growth for the sector.

Investment gains for the country were reported in all facets of residential and non-residential (institutional, commercial and industrial [ICI]) construction.

Country-wide, investment in residential rose 1.4% to $10.7 billion in February. Investment in single-unit construction increased 1.9% to $5.2 billion, outpacing multi-unit construction (+0.9% to $5.6 billion).

Non-residential construction investment was up 1.2% to $5.1 billion in February. Provincially, Ontario (+$39.4 million) and Quebec (+$29.1 million) reported the largest gains, while Alberta continued to decline, down 0.7% to $678.9 million.

The commercial segment saw the majority of growth in the ICI sector, up 1.5% to $3.0 billion nationally. Ontario (+2.7% to $1.1 billion) and Quebec (+3.5% to $650.4 million) contributed the most to the gains, offsetting declines in six other provinces. On a year-over-year basis, commercial construction investment was up 12.1%.

Meanwhile, industrial construction investment (+1.0% to $937.9 million) and institutional construction investment (+0.6% to $1.2 billion) also increased in February over January, and both segments were also showing year-over-year gains in February.