Canadian investment in new housing construction rises 4.1 percent in May

Friday, 21 July 2017 00:53:36 (GMT+3)   |   San Diego
       

According to Statistics Canada, new housing construction investment totaled $4.4 billion in May, up 4.1 percent from May 2016. This increase was mostly explained by higher investment in Ontario and, to a lesser extent, in British Columbia and Manitoba. Of the four provinces that posted a decline, Quebec's decrease was the largest.

Nationally, construction spending increased for all types of dwellings. Increased investment in single-family dwellings (+$77.6 million) accounted for 44.6 percent of the national gain.

Higher investment in apartment buildings was still mostly attributable to spending in British Columbia. The largest decreases for this type of dwelling were in Alberta and Ontario.


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