Canada’s construction sector warms as investment jumps 5.9 percent
The construction sector in Canada looks to be bouncing back after new figures showed total investment in building construction rose 5.9 percent to CA$18.6bn (£10.9bn) month over month, reports The Construction Index.
Monthly figures from Statistics Canada showed the increase was led by a surge in investment in the residential sector. In fact, investment in house-building rose for the 11th month in a row, up 7.6 percent to CA$14.0bn.
Non-residential investment rose slightly, at 1.1 percent to CA$4.6bn. Despite this small improvement, commercial and industrial investment sits below the level they were at before the Covid-19 pandemic.
Institutional projects, such as schools, jumped 2.2 percent to CA$1.2bn, while spending on commercial buildings rose 0.8 percent to CA$2.6bn.
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