Canadian Contractor

By Canadian Contractor staff   

Investment in building construction increased in January: StatCan

Canadian Contractor Financials

The residential sector rose 1.9 per cent to $14.9 billion.

March 15, 2023, Ontario – Investment in building construction increased 1.5 per cent to $20.4 billion in January, with all components posting gains. The residential sector rose 1.9 per cent to $14.9 billion.

On a constant dollar basis (2012=100), investment in building construction increased 2.4 per cent to $11.9 billion.

Ontario drives residential sector

Investment in residential building construction advanced 1.9 per cent to $14.9 billion in January after posting four consecutive monthly declines at the end of 2022.

Single-family home investment was up 2.4 per cent to $8.0 billion. Ontario accounted for much of the gain with its largest increase since December 2021.

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Multi-unit construction increased 1.3 per cent to $6.8 billion, mostly driven by Ontario (+5.2 per cent). On the other hand, Quebec continued to contract, with its eighth consecutive decline since reaching its peak in May 2022.

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