Gains in all components pushed investment in building construction to $19.1 billion in January, reports Statistics Canada, a gain of 3.4%.
The commercial segment posted a seventh consecutive monthly increase, up 1.8% to $2.8 billion on strong results in Ontario and British Columbia and renewed interest in office properties and warehouses.
A 3.1% increase in institutional investment in Quebec helped offset declines in seven provinces. This segment experienced a small increase of just over half a percent to reach $1.4 billion.
Industrial construction was a bright spot, posting its biggest monthly increase since mid-2020. Investments in this segment rose 2.1% to $864 million in January.
Overall investment in non-residential construction rose 1.5% for the month, hitting the $5.0 billion mark for the first time since June 2020.
The residential sector posted its fourth consecutive monthly gain. Investment in construction there increased by more than 4% to reach $14.1 billion in January. The gains reflect high levels of construction intentions in the fourth quarter of 2021.
Investment in single-family homes rose 2.5% to $7.6 billion, while investment in multi-unit construction rose 6% to $6.5 billion. Saskatchewan was the only province to show a decline due to a combination of mature projects and a lower level of new permits.