OTTAWA — Total investment in building construction increased 60.1 percent to $13.4 billion in May, StatCan reports, partially rebounding from large declines in April. Investment in residential construction rose 57 percent to $8.4 billion. Spending on single-unit construction bounced back 71.7 percent to $4.1 billion, exceeding multi-unit growth which increased 45.2 percent to $4.3 billion. Although Ontario and Quebec reported the largest provincial gains for the month, all provinces bounced back somewhat from sharp declines in April. Despite these strong gains, residential investment remained 22.7 percent lower than February, before COVID-19-related restrictions were put in place.
Construction spending begins to rebound in May
Most Recent
Most Read
CertainTeed Canada introduces Lanaé, a new insulation technology
Mon, June 16th, 2025
Castle Building Centres raises over $47,000 for IWK Health Centre
Mon, June 16th, 2025
IKEA Canada transforms its loyalty program
Mon, June 16th, 2025
Global DIY Summit tackles creating meaningful customer relationships
Fri, June 13th, 2025
EvoX welcomes new member
Fri, June 13th, 2025
Industry descends on Lisbon for Global DIY Summit
Thu, June 12th, 2025
AD Canada marks successful annual meeting
Thu, June 12th, 2025
CTC headquarters to get upgrade
Thu, June 12th, 2025
Throwback Thursday: 20 years ago, Michael Schurman was inducted into the P.E.I. Business Hall of Fame
Thu, June 12th, 2025
Dollarama reports Q1 growth
Thu, June 12th, 2025