Investment in building construction in Canada increased C$270.9 million, or 1.2%, from June to C$23.6 billion in July, and was 8.1% higher than a year earlier. Non-residential construction drove the gain, while residential construction edged up, Statistics Canada reported.
Residential investment gained C$44.0 million, or 0.3%, from June to C$16.2 billion in July. Single-family investment advanced C$265.2 million, or 3.5%, from June to C$7.8 billion, with increases across all provinces led by Ontario, at C$93.5 million, and Alberta, at C$68.6 million. Multi-unit investment fell C$221.2 million, or 2.6%, from June to C$8.4 billion, with the decline primarily attributed to British Columbia, Quebec and Ontario.
Non-residential investment climbed C$226.9 million, or 3.2%, from June to C$7.4 billion in July. Institutional investment jumped C$159.3 million, or 7.4%, from June to C$2.3 billion, led by Ontario's C$151.0 million increase, which was attributed to new hospital construction. Industrial investment was C$40.6 million higher, or 2.8%, from June to C$1.5 billion, led by Saskatchewan and British Columbia. Commercial investment ticked up C$27.0 million, or 0.8%, from June to C$3.5 billion, as increases in six provinces and one territory were tempered by a decline in British Columbia.
In constant 2023 dollars, total investment grew by C$205.2 million, or 1%, from June to C$21.2 billion in July, and was 4.7% higher than a year earlier.