By Canadian Contractor staff
Investment in building construction increased in January: StatCanCanadian 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.
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.