July 15, 2022 – Statistics Canada reports that investment in building construction edged down 0.2% to $20.6 billion in May. If you exclude Ontario, the investment increase 1.1% nationally.
Many unionized construction workers in Ontario were on strike during the month, notes Statscan. “These strikes have caused significant delays to many residential and non-residential construction projects across the province.
Thus, the investment in the non-residential sector contracted 0.9% to $5.2 billion in May as the strike in Ontario reversed gains in eight provinces and dragged down all three components (industrial, commercial, institutional).
In May 2022, investment in the residential sector was virtually unchanged at $15.4 billion, following growth that began in September 2021. Excluding Ontario, the residential sector continued its upward trend, rising 1.3% in May.
Multi-unit construction continued to climb, rising 3.4% to $7.0 billion, with six provinces posting gains, led by Quebec (+10.0%).
Investment in single-family homes fell 2.5%, ending its seven-month streak of growth. Overall, six provinces recorded growth in May, which was offset by declines in four provinces, with Ontario and Quebec responsible for most of the decline.