Canadian construction spending unchanged in October

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stats can oct 2022

CaDcr staff writer

Building construction values across Canada jumped just 0.2 per cent in October – to $20.9 billion, according to the latest report from Statistics Canada.

Residetial building construction was down slightly by 0.1% with Quebec reporting the largest drop. Also, the value of single-family home construction fell 2.3% to $8.2 billion, with declines in nine provinces – the largest decline since July 2021.

Also, multi-unit construction investment increased 2.5% to $7.2 billion, with the largest jump in Ontario at 8.6 per cent – the largest monthly increase since June 2020.

There was also a 1.2 per cent increase in Ontario’s non-residential construction in the same time period and industrial construction investment jumped 1.3% – up 24.4% year over year.

Commercial construction investment increased 1.3 per cent to $3.1 billion in October and seven provinces reported gains and institutional construction in Canada fell 0.3 per cent to $1.4 billion.

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