In October, Statistics Canada revealed a 2.7% surge in building construction investment, reaching $19.4 billion. Residential development experienced a notable 3.9% growth, totaling $13.4 billion, while non-residential investment remained stable at $6.0 billion.

1. Residential building construction escalated by 3.9% to $13.4 billion, witnessed across eight provinces. Notably, Manitoba (+16.2%), Saskatchewan (+11.5%), and Alberta (+9.5%) showcased the most substantial improvements, while Newfoundland and Labrador faced a decline of -6.1%.
2. Investment in detached single-family homes increased by 3.1% to $6.5 billion, primarily driven by a substantial 23.3% surge in Manitoba.
3. Multi-unit investment surged by 4.6% to $6.9 billion, displaying robust growth across provinces, barring Newfoundland and Labrador (-8.8%) and Quebec (-1.5%) experiencing declines.
4. Non-residential investment remained at $6.0 billion, with industrial (+1.0% to $1.2 billion) and institutional (+0.7% to $1.6 billion) sectors seeing gains, counteracted by a commercial investment decline (-0.7% to $3.2 billion).
5. Noteworthy gains in institutional investment were led by hospital facility investments. Additionally, the construction of an active cathode materials plant in Bécancour, Quebec, drove industrial facilities’ investment.

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