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Canadian Non-Residential Investment Increases in 3Q

Non-residential building construction investment in Canada reached $10.4 billion in the third quarter, a 2.9 percent increase from the second quarter and the third consecutive quarterly gain. The increase was mainly the result of higher spending on commercial and industrial buildings.

In the third quarter, investment fell in two provinces: Saskatchewan and Alberta. In Saskatchewan, the decline was due to lower spending in the industrial and institutional components, while, in Alberta, it was due to lower institutional spending.

Ontario had the largest increase, mainly as a result of higher spending on commercial and industrial building construction.

Locally, 21 of the 34 census metropolitan areas recorded gains. The largest gain was in Toronto, where investment rose 7.5 percent to $1.8 billion, mainly as a result of increased spending in the commercial component.

The largest decline was in Barrie and was attributable to decreased spending in the institutional and industrial components.

Commercial Component
Investors put $5.9 billion into commercial projects, up 4.1 percent from the second quarter, the third consecutive quarterly gain.

The third quarter increase was the result of higher spending on transportation and recreational buildings, especially in Ontario and Alberta.

Overall, commercial investment rose in eight provinces. The largest increase occurred in Ontario, where investment rose 7.2 percent to $2.4 billion.

British Columbia had the largest decline, mainly as a result of lower spending in several commercial construction categories.

Industrial Component
Investment in the industrial component increased 4.3 percent to $1.1 billion in the third quarter. It was the second quarterly increase in a row following seven consecutive quarters of declines.

The third quarter gain was due to higher investment in the construction of primary industry buildings in eight provinces and the construction of utilities buildings in six provinces.

Provincially, the most substantial contributions to the quarterly increase came from Ontario, where investment rose 7.3 percent to $453 million, and from Alberta, where it was up 6.5 percent to $237 million.

In contrast, Saskatchewan recorded the largest decline, mostly as a result of lower investment in manufacturing plants.

Institutional Component
After two quarters of declines, investment in institutional construction edged up 0.4 percent in the third quarter to $3.4 billion. The biggest contributing factor was higher spending on educational facilities in nine provinces.

The largest increases were in Ontario and Quebec, both of which recorded higher spending in the construction of educational facilities.

In contrast, Alberta had the largest decline, mainly the result of lower spending in the construction of health care facilities and government buildings.

Source: Statistics Canada

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