Multifamily sector leads investment in construction
Investment in Canada’s building construction edged 0.3% higher in September compared to the previous month.
The rise of $14.5 billion reported by Statistics Canada was led by a 1% gain for the multifamily residential construction sector ($4.8 billion) while the single-family sector was down 0.2% to $5.3 billion.
Year-over-year, single-family construction investment was up 5.2% while the multifamily sector gained 14.6%.
The non-residential sector was unchanged from August at $4.5 billion.
Gains in the commercial (+0.5% to $2.5 billion) and industrial (+2.0% to $0.9 billion) sectors were offset by a 2.7% decline in the institutional sector.
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