Canada's building construction investment edges up 0.1% in August as residential dips, Statistics Canada says

Statistics Canada said on Oct. 21 that total investment in building construction edged up $25.1 million, or 0.1%, to $23.5 billion in August, and was up 7.9% from a year earlier. Non-residential investment rose 1.0%, while residential investment fell 0.3%. On a constant-dollar basis (2023=100), total investment edged down 0.1% from July to $21.2 billion, and was up 4.7% year over year.

The agency said non-residential investment rose $70.5 million to $7.4 billion, led by institutional (up 1.9%) and commercial (up 0.8%) construction, while industrial construction was little changed (down 0.1%). Residential investment fell $45.4 million to $16.1 billion: single-family construction dropped 1.3% to $7.6 billion, while multi-unit construction rose 0.6% to $8.5 billion.