StatsCan: building construction investment up 1.3 percent in February
Building-construction investment grew by 1.3 percent to $15.9 billion in February.
In its monthly review of the metric, Statistics Canada reported that all components of the residential and non-residential sectors reported gains. February is the fourth month in a row in which total investments have grown.
Investment in residential construction grew by 1.4 percent to $10.7 billion. Investment in single-unit construction increased 1.9 percent to $5.2 billion, while investment in multi-unit residential structures grew by 0.9 percent to $5.6 billion.
Meanwhile, non-residential investment rose by 1.2 percent to $5.1 billion. Ontario and Quebec reported the largest gains, while investment in Alberta dropped by 0.7 percent.
The commercial component accounted for the majority of growth in the non-residential sector. Investment there grew by 1.5 percent to $3.0 billion nationally. Ontario (+2.7 percent to $1.1 billion) and Quebec (+3.5 percent to $650.4 million) contributed the most to the gains, which more than offset declines reported in six provinces.
Investment in construction for the industrial (+1.0 percent to $937.9 million) and institutional (+0.6 percent to $1.2 billion) components also reported increases.
Total construction investment in Ontario reached $6.4 billion for the month, a jump of 0.9 percent. Investment in the residential sector grew by $15 million for month. An increase in investment of $17 million in the single-family housing component offset a drop of about $3 million in the multi-family component.
Investment in the province’s non-residential sector jumped by about $40 million, or 2.0 percent. The value of commercial component investment led the way with an increase of about $30 million (to $1.96 billion), or 2.7 percent, while investment in the industrial component increased by $6 million (1.3 percent to $407 million). The institutional component increased by $5 million (1.0 percent to $428 million).