201421
202187


Investment in residential construction falls for first time in nine months: StatCan

Residential building dips

Statistics Canada says investment in residential construction declined for the first time in nine months in June, as gains in the non-residential sector helped push overall construction investment up 0.3 per cent to $20.8 billion.

The agency says residential construction investment fell 0.4 per cent to $15.5 billion in June, with Quebec being the biggest drag.

Within the residential segment, investment in single-family homes continued to show strength, rising 0.7 per cent to $8.6 billion, having outpaced multi-unit construction since the COVID-19 pandemic downturn.

Non-residential construction investment rebounded in June, increasing 2.4 per cent to $5.3 billion for the month, with commercial construction advancing 2.7 per cent to $3.0 billion, driven by Ontario.

Investment in commercial construction had fallen in May, the first time in 13 months, as a result of an Ontario construction workers strike.

Statistics Canada says the total value of investment in building construction rose 3.3 per cent to $62.3 billion in the second quarter, the third consecutive quarterly increase.



More Business News



200621
199118
Data from CryptoCompare
RECENT STORIES
202159
201365
Castanet Proud Member of RTNDA Canada
202184
Press Room
197615