Canadian building sector reports 3.1% decrease, totaling $18.0 CAD in June

Posted on August 29, 2023   |  

The investment in building construction witnessed a 3.1% decrease, totaling $18.0 CAD during June.

When accounting for inflation (2012=100), the investment in building construction fell by 3.4% to $10.3 billion.

Residential construction investment fell by 4.5% to $12.1 billion, marking the sector's 4th consecutive monthly decrease.

Investment in the construction of single-family homes fell by 5.7% to $6.2 billion, with 8 out of 10 provinces experiencing declines, led by Ontario's 5.8% decrease to $5.1 billion.

Multi-unit construction undergoes a 3.1% decline, hitting $5.9 billion, marking the sector's 8th consecutive monthly drop and the lowest level since September 2021.

Investment in non-residential construction slightly fell by 0.2% to $5.9 billion in the same period due to widespread declines in Quebec, down 3.1% or $1.3 billion.

The commercial construction sector stands out with a 0.8% growth, reaching $3.3 billion. However, the industrial and institutional sectors both witness a 1.4% decline to $1.2 billion and $1.4 billion, respectively.