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Investment in non-residential construction – November 2021. (Source: Statistics Canada)

In its latest report, Statistics Canada indicates a 1.2% increase in investment in building construction, reaching $18 billion in November. All of the components advanced, with the exception of industrial construction.

Multi-unit construction helped residential numbers, with the segment rising 2.4% to $6.0 billion. Investment in single-family homes rose just under 1% to $7.1 billion.

Overall investment in residential construction rose 1.5% to $13.1 billion in November.

In the non-residential construction sector, investment edged up 0.6% in November to $4.9 billion.

Business investment posted its fifth consecutive monthly increase, reaching $2.7 billion, boosted by gains in Ontario. Prince Edward Island and Alberta were the only provinces to register declines.

Investment in the institutional component increased by 1.4% to reach $1.4 billion. Quebec posted the largest increase, at nearly 5%, more than offsetting declines reported in seven provinces.

Industrial construction was a weaker area, down 0.7% to $824 million. Declining loans were Ontario (-1.6%) and Manitoba (-6.8%). Conversely, Nova Scotia posted strong gains, up nearly 15%.