Statistics Canada reports that investment in building construction experienced a slight increase of 0.4% in April 2023, reaching $20.3 billion. The residential sector, however, saw a decrease of 0.7% to $14.4 billion, while the non-residential sector witnessed a growth of 3.4% to $5.9 billion.

When considering the constant dollar basis (2012=100), investment in building construction grew by 2.3% to $11.8 billion.

Within the residential sector, investment in single-family homes declined by 2.1% to $7.7 billion in April, marking its lowest level since November 2021. Notable gains were observed in Nova Scotia (+15.2%; +$52.8 million). However, these gains were offset by declines in Ontario (-4.2%; -$146.4 million) and Quebec (-4.4%; -$67.3 million).

Multi-unit construction within the residential sector increased by 0.8% to $6.7 billion, remaining around this value since December 2022.

On the other hand, the non-residential construction sector displayed positive growth, with a 3.4% increase to $5.9 billion in April. This growth represented the largest recorded monthly increase for the sector since June 2020. It followed a substantial 32.0% monthly increase in the value of building permits reported in March 2023, which reached record-high levels for non-residential construction intentions.

Industrial construction investment rose by 5.4% to $1.2 billion in April, primarily driven by the start of construction of a new manufacturing building in Bécancour, Quebec. This led Quebec to achieve its 20th consecutive monthly increase in the industrial construction component.

Commercial construction investment increased by 3.7% to $3.2 billion, with Ontario contributing the most to this growth (+6.7%; +$86.2 million). This marked the 11th consecutive monthly increase for the commercial construction component.

Institutional construction investment also experienced growth, with an increase of 1.2% to $1.4 billion in April. Seven provinces, led by Ontario (+2.5%; +$12.9 million), posted gains in this sector.

Overall, these figures reflect the dynamics of investment in building construction in April 2023, highlighting the decline in the residential sector and the growth observed in the non-residential sector, particularly in industrial, commercial, and institutional construction.

• 
•