Building construction investment rises in November
Investment in building construction enjoyed a strong month in November, with increases in every component except the industrial sector.
Statistics Canada reported an increase of 1.2 percent to $18 billion for the month on the strength of gains in both the residential and non-residential sectors.
The value of investments in the housing sector rose 1.5 percent to $13.1 billion. Multi-unit construction investment rose 2.4 percent to $6.0 billion om the strength of strong performances in Ontario (+2.5 percent) and Quebec (+3.3 percent). Investment in single-family homes increased 0.7 percent to $7.1 billion, led by Ontario (+1.7 percent).
Non-residential construction investment, meanwhile, edged up 0.6 percent in November to $4.9 billion.
Commercial investment posted its fifth consecutive monthly increase (+0.6 percent to $2.7 billion) driven by gains in Ontario (+1.1 percent). Investment in the institutional component was up 1.4 percent to $1.4 billion, while industrial construction declined 0.7 percent to $824 million, reflecting decreases in Ontario (-1.6 percent) and Manitoba (-6.8 percent).