Investment in building construction broke a five-month losing string in October, increasing by 1.6 percent to $17.8 billion.

Both components recorded increases, with the residential sector adding 1.4 percent during the month to record a value of $12.9 billion. October was the first month in five in which residential investment rose. Quebec (+3.3 percent) and Saskatchewan (+16.7 percent) were among the provinces leading the national gain.

Investment in single-family homes edged up 0.6 percent to $7.0 billion, thanks to notable gains in Quebec and Alberta. A decrease in Ontario (-2.2 percent), however, partially offset the growth observed in much of the country.

Multi-unit construction investment rose 2.4 percent to $5.9 billion, led by gains in Ontario and Quebec.

Non-residential construction investment, meanwhile, was up across all components in October. The component’s overall increase of 2.0 percent brought investment to $4.9 billion for the month—the highest value since July 2020.

Commercial investment rose 2.6 percent to $2.7 billion. British Columbia was the only province to post a decrease (-0.8 percent), continuing a slight downward trend that began in November 2019.

Investment in the institutional component rose 1.3 percent to $1.4 billion, with Quebec (+5.8 percent) largely behind the gain. However, six provinces reported declines for the month.

Industrial construction investment increased 1.4 percent to $839 million, mainly driven by gains in Ontario (+1.8 percent).