According to Statistics Canada, investment in building construction declined 2.6 percent to $17.5 billion in July. The residential sector decreased 4.1 percent to $11.5 billion, while the non-residential sector was up 0.5 percent to $5.9 billion.
Investment in residential building construction fell 4.1 percent to $11.5 billion in July, with declines seen in eight provinces.
Single-family home construction investment declined 5.5 percent to $5.8 billion, the lowest level since August 2020, with Ontario accounting for most of the fall. Multi-unit construction investment was down 2.8 percent to $5.7 billion in July 2023, the ninth consecutive monthly decrease.
Investment in non-residential construction was up slightly, increasing 0.5 percent to $5.9 billion in July. Notable gains in British Columbia, Alberta and Saskatchewan offset declines in six provinces.
After two consecutive monthly decreases, investment in the industrial component increased 0.6 percent to $1.2 billion, while commercial investment edged up 0.3 percent to $3.3 billion.
Institutional construction investment rose by 1.2 percent to $1.5 billion. A new hospital project in Dawson Creek contributed to notable gains in British Columbia.