Building Construction Investment Sees Drop

Total investments in building construction trimmed down 0.4 per cent to $15.2 billion in October, following a 1.5 per cent decrease in September, says Statistics Canada. Investment in the non-residential sector fell for the fourth consecutive month in October, down 3.2 per cent to $4.4 billion. Investment in commercial building construction accounted for the largest decline, down 4.7 per cent to $2.5 billion. All provinces and territories were down, with the largest drop in Quebec (-13.4 per cent to $443 million). Industrial building construction investment was down 1.7 per cent and institutional building construction was down 0.8 per cent in October. Investment in residential construction crept up 0.7 per cent in October, with single-unit construction investment leading the growth, increasing 3.7 per cent to $5.5 billion. Every province reported gains except for Prince Edward Island.