OTTAWA — Total investment in building construction increased five percent to $16 billion in August, according to data from StatCan. Residential-sector investment increased 8.2 percent to $10.8 billion, while non-residential investment decreased 1.2 percent to $5.2 billion.
As construction companies pushed to catch up on work delayed earlier in the spring, August saw construction investment reach a record high. However, on a year-to-date basis total investment was 3.7 percent lower than for the same period in 2019. Investment in residential construction rose for the fourth month in a row in August, with a 5.4 percent increase in the single-family sector to a total of $5.4 billion.
