Non-residential building construction up in Q3 2012
October 22, 2012 by On-Site staff
According to a recent Statistics Canada report, investment in non-residential building construction increased 0.6 per cent in the third quarter of 2012 (Q3 2012) to $12.1 billion, when compared to the previous quarter. This marked the third consecutive quarterly increase.
Overall investment was up in six provinces in Q3 2012, with Quebec and B.C. experiencing the largest gains.
The industrial component experienced a 6.0 per cent jump to $1.6 billion in Q3 2012. Nine provinces increased industrial component spending in the quarter, with Ontario (up 7.2 per cent to $550 million) and Alberta (up 8.0 per cent to $387 million) accounting for the biggest gains.
The commercial component experienced a 1.0-per cent increase to $7.3 million in Q3 2012, when compared to the previous quarter. The increase was largely due to increased spending in the construction of retail and wholesale outlets, warehouses and restaurants in eight provinces.
B.C. experienced the most significant gains in the quarter, up 6.0 per cent to $819 million, fuelled mainly by the construction of office buildings and retail and wholesale outlets. Ontario also experienced gains, up 1.0 per cent to $2.6 billion. Alberta experienced the largest decline in the commercial component in Q3 2012, down 2.5 per cent to $1.7 billion, when compared to the previous quarter.
The institutional component experienced a 2.8-per cent decline to $3.2 billion for its seventh consecutive quarterly decrease, largely due to decreased investment in health care facilities and other government buildings. Ontario experienced the largest drop in investment, down 4.6 per cent to $1.7 billion, when compared to the previous quarter. In Quebec, institutional investment was up 7.2 per cent to $537 million, due to increased spending on educational facilities.
Investment in 16 of the 34 census metropolitan areas (CMAs) increased in Q3 2012, with Montreal, Vancouver and Calgary experienced the biggest gains. The largest declines took place in Edmonton and Kitchener-Cambridge-Waterloo.
To read the full Statistics Canada report, click here.
Source: Statistics Canada.