Building Construction Investment Rises Again

Total investment in building construction rose for the fourth consecutive month in August, increasing five per cent to $16 billion, says Statistics Canada. Residential sector investment increased 8.2 per cent to $10.8 billion, while non-residential investment decreased 1.2 per cent to $5.2 billion. As construction companies pushed to catch up on work delayed earlier in the spring, August saw construction investment reach a record high. However, on a year-to-date basis total investment was 3.7 per cent lower than for the same period in 2019.