According to Statistics Canada, investment in building construction went up by 0.4 percent to $20.3 billion in April. The residential sector edged down 0.7 percent to $14.4 billion, while the non-residential sector was up by 3.4 percent to $5.9 billion.
Investment in residential building construction was down 0.7 percent to $14.4 billion in April. Investment in single-family homes declined 2.1 percent to $7.7 billion in April, the lowest level since November 2021. In April 2023, notable gains from Nova Scotia (+15.2 percent; +$52.8 million) were offset by declines in Ontario (-4.2 percent; -$146.4 million) and Quebec (-4.4 percent; -$67.3 million). Multi-unit construction increased 0.8 percent to $6.7 billion, hovering around this value since December 2022.
Investment in non-residential construction continued to grow, up 3.4 percent to $5.9 billion in April. This was the largest recorded monthly increase since June 2020 for the sector. This followed a 32.0 percent monthly increase in the value of building permits reported in March 2023, as it reached record-high levels for non-residential construction intentions.
Industrial construction investment rose 5.4 percent to $1.2 billion in April. The start of construction of a new manufacturing building in Bécancour, Quebec helped lead the province to its 20th consecutive monthly increase in the component.
Commercial construction investment advanced 3.7 percent to $3.2 billion, with Ontario (+6.7 percent; +$86.2 million) contributing the most to the growth. This was the 11th consecutive monthly increase for the component.
Institutional construction investment increased 1.2 percent to $1.4 billion in April. Overall, seven provinces posted gains, led by Ontario (+2.5 percent; +$12.9 million).