Investment in Canadian building construction fell by 1.3% in December and 1.9% in Q4

Posted on February 17, 2023   |  

The investment in building construction fell by 1.3% to $20.2 billion (CAD) in December; on a constant dollar basis (2012-100), investment in building construction fell by 2.0% to $11.6 billion.

In the same period, investment in residential building construction was down 2.1% to $14.6 billion, investment in the construction of single-family homes fell by 0.5% to $7.8 billion for the 5th consecutive month, in multi-unit construction fell by 3.9% to $6.8 billion, but in non-residential building construction grew by 0.8% to $5.6 billion. 

Investment in industrial construction grew by 2.1% to $1.1 billion for the 13th consecutive month while commercial construction was steady and was up 0.1% to $3.1 billion. 

Institutional construction investment grew by 1.5% to $1.4 billion and has remained at this level since October 2021.

In all of Q4, the total value of investments in building construction declined by 1.9% to $61.3 billion but the residential sector was down 3.4% to $44.8 billion, while the non-residential sector grew by 2.6% to $16.5 billion.