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Building construction investment slips in April

By Adam Freill   

Commercial Construction Industrial Institutional Residential

The latest Statistics Canada Investment in Building Construction report from shows a small drop in almost all segments.

Investment in non-residential building construction, April 2024. (Source: Statistics Canada, Table 34-10-0286-01 – Investment in Building Construction.)

Investment in building construction decreased two per cent in April, falling to $20.5 billion from March, reports Statistics Canada. The decline was greatest in the residential sector, which dropped 2.7 per cent. The non-residential sector slipped 0.5 per cent to come in at $6.3 billion.

The $386.7 million decrease in residential building construction investment decreased put the sector at $14.2 billion in April. Monthly declines were recorded in nine of the 13 provinces and territories, led by Ontario’s $123.9 million drop and Alberta’s $118.4 million contraction. The declines were tempered by increases in the remaining provinces and territories.

Across Canada, single family home investment fell 4.7 per cent to $6.9 billion in April, while multi-unit family investment was down just 0.6 per cent, hitting $7.3 billion in April. Leading gainers were Nova Scotia’s 10.5 per cent jump and Quebec’s more modest 1.1 per cent rise.

Investment in non-residential construction edged down by $31.2 million, settling at $6.3 billion for the month. A 1.4 per cent decline in the industrial component and 0.7 per cent slip in the commercial component were partially offset by a slight increase in the institutional component, which rose 0.6 per cent in the month.

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www.statcan.gc.ca

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