HPAC Magazine

StatsCan Reveals Construction Investments on the Rise in February

April 21, 2020 | By 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.




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