Boost for commercial, industrial construction investment

by Steve Randall20 Jul 2018

Investment in non-residential construction was up 1.4% in the second quarter of 2018 compared to the previous three months.

Statistics Canada says that a total $14.3 billion was invested with the commercial sector up $123.7 million and the industrial sector up 103.4 million. The institutional sector was down by $35.4 million (0.9%).

Investment was up in six provinces in the second quarter, with Ontario (+$130.6 million) reporting the largest rise, followed by Quebec (+$76.7 million) and British Columbia (+$45.6 million). Every component was up in all three provinces, led by spending on commercial building construction.

Office buildings lead in Toronto
Toronto saw an $83.8 million of investment in commercial buildings, a rise of 2.5% quarter-over-quarter. Offices led this investment with a $78.4 million boost for office buildings.

In British Columbia, investments in commercial (+$25.0 million) and industrial (+$19.7 million) building construction were the primary contributors to the quarterly increase, with the institutional component essentially unchanged.

The largest quarterly decline was in Alberta (-$63.4 million), reflecting lower spending on commercial (-$42.5 million) and institutional (-$38.0 million) building construction.

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