Canadian construction investment rises in Q4 2014

Monday, 19 January 2015 01:45:02 (GMT+3)   |   San Diego
       

According to Statistics Canada, investment in Canadian non-residential building construction reached $12.9 billion in the fourth quarter, up 0.3 percent from the previous quarter. Higher spending in the institutional and industrial components led to a third consecutive quarterly increase. Overall, total investment increased in five provinces in the fourth quarter, with the largest gain in Alberta, followed closely by Manitoba. In Alberta, the increase was spread across the institutional and industrial components, while in Manitoba, the gain was in the commercial and institutional components.

Investment in institutional projects rose by 1.4 percent to $3.5 billion in the fourth quarter, the third straight quarterly increase in this component nationally. Institutional investment was up in five provinces. The biggest increase was in British Columbia, followed by Alberta. In British Columbia, investment was up 7.4 percent to $384 million. This was mainly the result of higher spending in the construction of health care facilities. In Alberta, investment rose 6.1 percent to $441 million, the second consecutive quarter of growth for the province. This increase was mainly a result of higher spending in all categories of institutional buildings.

Investment in industrial projects was up 1.1 percent to $1.6 billion in the fourth quarter. This was the second consecutive quarterly increase. Gains in this component were mainly the result of the construction of manufacturing plants and primary industry buildings in Ontario as well as maintenance buildings in Alberta. Quebec posted the largest decline in the fourth quarter, with investment falling 8.0 percent to $270 million, mainly because of lower construction of manufacturing plants.

Investment in commercial building construction amounted to $7.8 billion in the fourth quarter, down 0.4 percent from the previous quarter. This decline followed two consecutive quarterly increases and was attributable to lower spending on commercial building construction in seven provinces. The sharpest declines occurred in Quebec and Ontario. In Quebec, commercial investment was down 2.3 percent to $1.3 billion, the fourth straight quarterly drop in commercial investment in this province. The decrease was primarily due to lower investment in the construction of recreational, office and retail and wholesale buildings. In Ontario, investment was down 0.8 percent to $3.0 billion, mainly as a result of lower spending on recreational, retail and wholesale and transportation facilities.

 


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