According to Statistics Canada, investment in building construction declined 1.3 percent to $20.3 billion in March. The residential sector fell 2.1 percent to $14.6 billion, while the non-residential sector went up by 0.9 percent to $5.7 billion.
Investment in single family homes was down 1.8 percent to $7.9 billion for March, with seven provinces posting declines. On the other hand, Nova Scotia (+14.1 percent; +$40.4 million) continued to post significant gains in single family investment after a strong February.
Multi-unit construction fell 2.4 percent to $6.7 billion in March. Ontario (-4.7 percent; -$135.6 million) played the largest role in the decline, more than offsetting notable gains in Quebec (+4.8 percent; +$58.9 million) and Saskatchewan (+28.6 percent; +$22.8 million).
Industrial construction investment increased for the 16th consecutive month, up 3.4 percent to $1.2 billion in March. Overall, eight provinces posted gains, led by Ontario (+5.0 percent; +$27.4 million).
Institutional construction investment was up 0.7 percent to $1.4 billion in March. British Columbia continued to increase (+2.6 percent; +$5.4 million), with the construction of a new expansion at Cariboo Memorial Hospital in Williams Lake contributing to the growth.
Commercial construction investment was relatively stable for March, edging up 0.1 percent to $3.1 billion. The construction of a new recreational center in Spruce Grove, Alberta contributed to the monthly growth that was recorded.