Canadian Investment in Building Construction Decreased 1.3% in December

Statistics Canada
February 13, 2023
Category: Finance & Economics
Region: Canada

Investment in building construction decreased 1.3% to $20.2 billion in December. The residential sector declined 2.1% to $14.6 billion, while the non-residential sector was up 0.8% to $5.6 billion. Investment in residential building construction was down 2.1% to $14.6 billion in December. Investment in the construction of single-family homes continued to decline for the fifth consecutive month, down 0.5% to $7.8 billion. Alberta (-3.6%) played the largest role in the decline. Investment in multi-unit construction decreased 3.9% to $6.8 billion. Ontario posted its largest decline (-8.1%) since April 2020, early in the COVID-19 pandemic. …Investment in non-residential construction was up 0.8% to $5.6 billion in December. Ontario (+2.7%) accounted for most of the growth as it led the gains in each component.

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