Investment in building construction in Canada increased by 1.9% (+$408 million) to $21.8 billion in December, with gains across all components, according to Statistics Canada. The residential sector rose by 2.2% (+$324 million) to $15.1 billion, driven by a 3.5% increase (+$263 million) in multi-unit construction, which rebounded after two consecutive monthly declines. Investment in single-family homes edged up 0.8% (+$61 million) to $7.3 billion, marking its fifth straight monthly increase.
Non-residential construction investment grew by 1.3% (+$84 million) to $6.7 billion, with eight provinces and one territory recording gains. Ontario led the increase with an additional $54 million, continuing its ten-month growth streak. The industrial sector rose 1.8% (+$26 million) to $1.5 billion, driven by gains in Quebec (+$16 million) and six other provinces. Commercial investment edged up 0.6% (+$20 million) to $3.3 billion, with increases in Ontario (+$25 million) offset by declines in Alberta (-$11 million) and British Columbia (-$3 million). Institutional construction rose 2.0% (+$38 million) to $1.9 billion, with seven provinces and all three territories reporting gains, while Quebec (-$13 million) saw the largest decline.
In constant dollar terms (2017=100), investment in building construction increased by 1.5% from the previous month to $13.0 billion and was up 1.6% year over year.
